As previously announced, all producers selling annuity products must have completed the four hour training by July 15, 2010. Annual Annuity Training may be provided at the company level and may be eligible for continuing education credit if the program has been pre-approved by the Department. The training may also be obtained from an approved licensed Continuing Education Provider. The program must be cumulatively at least four hours in length and address the mechanics of annuity products, the types of annuity products, and how to determine suitability of annuity products. The program should also address requirements related to placing or replacing annuity products in Arkansas.
California:
Beginning on September 1, 2009, the California Department of Insurance’s (CDI) Producer Licensing Bureau (PLB) will only accept address change requests from its licensees through its free online address change service.Address change requests consist of changes to mailing address, business address, residence address, e-mail address, residence telephone number and business telephone number.
Wisconsin:
Effective September 1, 2009, there will be a new line of insurance for variable life/variable annuity authority. After March 31, 2010, agents will only be able to sell variable life/variable annuity products if they hold the variable life/variable annuity line of authority and have been appointed by their insurer for this line. Agents who satisfy the current requirements for variable life/variable annuity can continue selling under their existing license and appointment until April 1, 2010. The 6-month transition period will allow currently licensed agents selling variable products to apply for the new line of authority and allow insurers to complete the new appointments for all agents selling their variable products. Agents must obtain the variable life/variable annuity line of authority and insurers must complete the required appointment no later than March 31, 2010. Agents can apply online on or after September 1 at www.sircon.com/wisconsin.
North Carolina:
Individuals not required to pass the state examination for an adjuster’s license should use the on-line adjuster application at www.nipr.com to ensure faster turn around time for final decision and issuance of the license. For companies that contract with one of the NIPR authorized business partners for administrative functions relative to licensing, it is important to verify that they use the on-line application process.Remember to follow the NC procedures for adjusting claims relative to a catastrophic event. The 2009 CAT adjuster bulletin is posted on the Department’s website at http://www.ncdoi.com/LS/ls_bulletins.asp.