Memo regarding new updates to Ch. 20: Regulation Governing Continuing Education

THE STATE OF WYOMING Mark Gordon Department of Insurance Jeffrey P. Rude Governor Commissioner 106 E. 6th Ave. ▪ Cheyenne, Wyoming 82002 December 23, 2022 TO: ALL LICENSEES REQUIRED TO COMPLETE CONTINUING EDUCATION IN WYOMING FROM: BRYAN STEVENS, LICENSING SUPERVISOR RE: CONTINUING EDUCATION REGULATION UPDATES There are new CE rules that will take effect January 1, 2023 as a result of our updates to Chapter 20 of the Wyoming Insurance Regulations. The biggest changes are the new carry-over rules and the new rules on how often licensees may receive credit for taking the same class. Carry over credits are meant to help licensees receive credit for taking more than the required 24 hours of continuing education in a licensing period. This will only apply to excess hours applied within 120 days of license renewal, and only general credits will be applied to carry forward hours. For example, a licensee’s license renews on October 31, 2023. They have completed all required hours by January 1, 2023, but there are still some classes that they will attend throughout the year. They take a spring crop insurance update worth 6 hours in March, get 4 hours of standard CE and 3 hours of ethics at an industry convention in June, and take a cyber insurance class worth 4 hours in August. Of the 17 hours of excess hours they took, only the 4 hours from the cyber insurance class will carry forward, as the rest were taken more than 120 days before their renewal at the end of October. The other new rule is that licensees may not receive credit for the same course more than once every 48 months. This will affect not only future classes, but also apply to classes that have already taken. For example, if a licensee took "Protecting Agents and Insureds from E&O Claims" in October of 2021, they will not be able to receive credit for that course again until November of 2025. This will be tracked by course number. If they wanted to take another E&O class they would have to choose a different course (such as E&O Prevention vs. Mitigation). Both are 4 credit hour classes offered by the same provider, but because the regulations say they can't receive credit more than once every 48 months they would want to take the class that they will receive credit for. That's not to say they CAN'T take a class again if they found the material useful, but they will not be able to receive credit again until 48 months later. As always, if you have any questions please do not hesitate to contact the Department. Bryan Stevens Licensing Supervisor Administration (307) 777-7401 ▪Fax (307) 777-2446 ▪https://doi.wyo.gov/ ▪Licensing (307) 777-7319 ▪Consumer Affairs (307) 777-7402