Continuing Education Credits for Insurance Producers for Active Participation in a Professional Association

NEBRASKA Good Life. Great Opportunity. DEPARTMENT OF INSURANCE [LOGO] Pete Ricketts, Governor # COVER SHEET CB-141 July 10, 2018 ## BULLETIN ### SUBJECT: CONTINUING EDUCATION CREDIT FOR INSURANCE PRODUCERS FOR ACTIVE PARTICIPATION IN A PROFESSIONAL ASSOCIATION This guidance document is advisory in nature but is binding on an agency until amended by such agency. A guidance document does not include internal procedural documents that only affect the internal operations of the agency and does not impose additional requirements or penalties on regulated parties or include confidential information or rules and regulations made in accordance with the Administrative Procedure Act. If you believe that this guidance document imposes additional requirements or penalties on regulated parties, you may request a review of the document. Contents of CB-141 follow on next page. Bruce R. Ramge, Director Department of Insurance 1135 M Street, Suite 300 PO Box 82089 Lincoln, Nebraska 68501-2089 OFFICE 402-471-2201 FAX 402-471-4610 www.doi.nebraska.gov NEBRASKA Good Life. Great Opportunity. DEPARTMENT OF INSURANCE July 10, 2018 CB-141  Pete Ricketts, Governor # BULLETIN # SUBJECT: CONTINUING EDUCATION CREDIT FOR INSURANCE PRODUCERS FOR ACTIVE PARTICIPATION IN A PROFESSIONAL ASSOCIATION Insurance producers are eligible to receive up to six continuing education credits for active participation in a professional insurance association. Pursuant to Neb. Rev. Stat. § 44-3902(1), active participation is defined as: 1) Attendance at formal meetings of a professional insurance association where a formal business program is presented; 2) Service on the board of directors or a formal committee of a professional insurance association and involvement in the activities of such board or committee; or 3) Participation in industry, regulatory, or legislative meetings held by or on behalf of a professional insurance association. nce at formal meetings of a professional insurance association where a formal business program is presented; 2) Service on the board of directors or a formal committee of a professional insurance association and involvement in the activities of such board or committee; or 3) Participation in industry, regulatory, or legislative meetings held by or on behalf of a professional insurance association. Active participation does not include attending social events or functions of an association or vendor, such as golf tournaments or cocktail hour, where formal business is not conducted. Neb. Rev. Stat. § 44-3902(5) defines a professional insurance association as: 1) A state or national membership organization that offers courses, lectures, seminars, or other instructional programs certified by the Director pursuant to Neb. Rev. Stat. § 44-3905; and 2) Is organized as an association or corporation for the express purpose of promoting the interests of insurance licensees in this state or nationally; and 3) Is based on paid membership renewable annually or biennially for a membership fee. In order to be eligible for credit, the professional insurance association must first be accepted by the Department by completing an application. The application is available directly from the Department or via the website at doi.nebraska.gov. In addition, the association must meet the requirements outlined in Neb. Rev. Stat. § 44-3902(5); be in existence for at least five years; and not have been revoked as a provider for the five preceding years. After review of the application 1 of 2 Bruce R. Ramge, Director Department of Insurance 1135 M Street, Suite 300 PO Box 82089 Lincoln, Nebraska 68501-2089 OFFICE 402-471-2201 FAX 402-471-4610 www.doi.nebraska.gov CB-141 July 10, 2018 nts outlined in Neb. Rev. Stat. § 44-3902(5); be in existence for at least five years; and not have been revoked as a provider for the five preceding years. After review of the application 1 of 2 Bruce R. Ramge, Director Department of Insurance 1135 M Street, Suite 300 PO Box 82089 Lincoln, Nebraska 68501-2089 OFFICE 402-471-2201 FAX 402-471-4610 www.doi.nebraska.gov CB-141 July 10, 2018 and documentation from the association that it meets the definitional requirements, the Department shall approve the association for continuing education credit for members. The Department will maintain a list of eligible associations on its website. After initial acceptance of the association's application, the burden is on the association to accurately report the applicable licensed insurance producers for credit. Rosters shall be submitted through the State Based Systems website. Insurance producers will only be eligible to receive the credit from one professional association and partial credit shall not be awarded. Credit will be awarded as follows: | Line | Credit Hours Awarded | | --- | --- | | Life | 6 | | Accident & Health or Sickness | 6 | | Property | 6 | | Casualty | 6 | | Personal Lines Property & Casualty | 6 | | Public Adjuster | 6 | | Title | 3 | Credit shall not be awarded or applied to the continuing education ethics requirements. The professional association is responsible for ensuring each member submitted for credit has met the requirements for active participation. These records shall be kept for four years and be available to the Department to review or request. Any instances of false reporting of credit will be thoroughly investigated by the Department and may result in disqualification of the professional association for continuing education credit. It is the responsibility of the professional association to notify their members of the subject matter of this bulletin and ensure compliance therewith. Dated this 10 day of July, 2018. Bruce R. Ramge Bruce R. Ramge Director reporting of credit will be thoroughly investigated by the Department and may result in disqualification of the professional association for continuing education credit. It is the responsibility of the professional association to notify their members of the subject matter of this bulletin and ensure compliance therewith. Dated this 10 day of July, 2018. Bruce R. Ramge Bruce R. Ramge Director 2 of 2