CE School's Out For Insurance Firm G.I.s
By Jim Connolly NU Life & Health Sr. Editor
NU Online News Service, March, 20, 1:30 p.m. EST?Insurance regulators said they plan to waive continuing education requirements for insurance industry personnel who are military reservists called up for Iraq war duty .
The National Association of Insurance Commissioners, Kansas City, Mo., is expediting a memorandum "as we speak" to get states to agree to the exemption, according to Matthew Brisch, an NAIC spokesperson.
The general consensus is that states will sign off on the memorandum quickly, he adds.
In some states such as Delaware, the authority already exists, according to Delaware Deputy Insurance Commissioner Peter Stone.
Exempting producers who are serving in active duty outside of Delaware is covered by statute and regulation, according to Stone. General licensing requirements are covered in 18 Del. Code 1707(h) as well as in Regulation 47, which specifically addresses continuing education requirements.
The request was raised recently during the NAIC's spring meeting by the National Association of Independent Life Brokerage Agencies, Fairfax, Va.
The request asked that each state insurance commissioner waive continuing education requirements for insurance producers during any calendar year in which the producer is called into active duty.
In a letter to regulators, Jack Dewald, chairman of NAILBA, wrote, "Our citizen soldiers are guaranteed their jobs when they return from the military. We must ensure producers remain qualified to perform those jobs. Waiving CE requirements will enable producers to return to work immediately and support their families."
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