2019 Insurance Laws Include CE Change
Although state lawmakers wrapped up the 2019 legislative session in early April, a number of the insurance-related laws they passed will take effect in the coming months.
Among these is Senate Bill 29 (Chapter 102), which changes the time frame in which producers must complete their required continuing education (CE) credits. Early in the legislative session this year, we worked with legislators and the Maryland Insurance Administration (MIA) to reach a compromise on MIA-backed legislation seeking to change the amount of time producers have to complete continuing education credits.
The MIA sought a shortened timeframe for CE completion due to administrative burdens in instances in which a producer’s license expires after their CE is complete, but before the credits have been reported by the provider. In the version of the legislation signed into law, effective Jan. 1, 2020 producers will be required to complete their CE credits not later than 15 days before the their license expiration date. In addition, CE providers will also have a shortened timeframe in which to submit evidence of course completion to the MIA.
The MIA recently published a bulletin providing insurance stakeholders with a summary of all of the 2019 insurance legislation signed into law by Gov. Larry Hogan. Access the bulletin, which includes life and health as well as property and casualty bills, for a summary of each and the effective dates.