Insurance producers whose license renews on or after April 1, 2022 should be aware of newly adopted continuing education (CE) regulations by the New York State Department of Financial Services (NYSDFS).
The agency announced the final adoption of the 6th amendment to 11 NYCRR 20 (Regulations 9, 18 & 29) – Producer Continuing Ed Requirements. The amendments, which take effect on November 12, 2021, include the following new continuing education (CE) instruction requirements which producers must complete:
- At least one hour for Insurance Law (i.e., overview of provisions of the Insurance Law)
- At least one hour for Ethics & Professionalism (i.e., obligations to clients/potential clients, obligations under the Insurance Law, ethical dilemmas, mechanisms for enforcing professional norms, professional values, etc.)
- At least one hour for Diversity, Inclusion & Elimination of Bias (e.g., covering implicit and explicit bias, equal access to justice, serving a diverse population, cultural sensitivity, etc.)
- At least one hour of Flood Insurance and three hours of Enhanced Flood Insurance for property/casualty producers (i.e., sale of flood insurance through NFIP, limits and rates, coverage for urban dwellings, measures to improve flood insurance affordability, etc.)
According to the NYSDFS, the requirements can be fulfilled as part of the current fifteen (15) hours of CE instruction that producers must fulfill pursuant to NYIL Article 21. For complete details visit: https://www.dfs.ny.gov/industry_guidance/regulations/final_adoptions_insurance