August 26, 2021
New bills signed into law impact Missouri insurance producers
JEFFERSON CITY, Mo. – Several new bills, recently signed into law by Governor Parson, revise provisions for producer license renewals and provide opportunities toward continuing education credits for insurance professionals.
Senate Bill 6 includes a provision to change producer license renewal timeframes. In the past, Missouri insurance producers renewed their license every two years on the anniversary date of issuance. This new provision changes the expiration to the birth date of the licensee.
“Not only is this a common sense approach to license renewals, but this change is a National Association of Insurance Commissioners (NAIC) Uniformity Standard. It is intended to help insurance producers, licensed in Missouri, remember to renew their license with the department and we hope this will help producers avoid late fees,” said Chlora Lindley-Myers, director of the Missouri Department of Commerce & Insurance.
Another provision signed into law of interest to insurance producers relates to continuing education alternatives. Missouri law requires a minimum of 16 hours of continuing education to be undertaken every two years for insurance producers. A provision under the new law, found in Senate Bill 6, House Bill 273 and House Bill 604, allows insurance producer’s membership in a local, regional, state, or national insurance association to be approved for up to four hours of continuing education hours.
“This provision is yet another way we can assist producers in meeting their continuing education requirements and also encourage them to be active in insurance associations which will help sharpen their skills,” said Lindley-Myers.
Information on how the department is implementing these changes may be found at www.insurance.mo.gov/SB6