Compliance Updates

Idaho:

The Idaho Insurance Department is sponsoring a free Producer Law training class that is approved for 3 continuing education credits. The class will focus on three topics including handling money & trust accounts, the producer licensing website, and a legislative update. Class begins at 1:30 and concludes at 4:30 PM on May 12^th – registration begins at 1:00. The location of the session is United Heritage, 707 East United Heritage Court in Meridian. Questions may be directed to Sandy Metro at 334-4323; the registration deadline is May 6^th and must be completed online at: http://www.doi.idaho.gov/producer/lawclass/list.aspx

Missouri:

Pearson VUE, in cooperation with the Missouri Insurance Department, has announced changes to the insurance pre-licensing education curriculum outlines. The announced revisions will be reflected on licensing examinations offered on and after August 1, 2011. These outlines reflect the new National exams that will go into effect for Missouri on the same date. Individuals preparing for an insurance licensing exam that will be administered on or after the announced implementation date are urged to ensure that their study materials reflect the most recent curriculum revisions. The new Licensing Information Bulletins will be available from Pearson VUE online at www.pearsonvue.com.

Virginia:

Quarterly appointment invoices were mailed on or about April 1, 2011.As a courtesy reminder, invoice remittances are due May 10, 2011. Payments received after May 10, 2011 are subject to statutory penalties. Payments must match the Invoice ID amount. Underpayments/overpayments of the invoice amount will not be accepted. Sections 38.2-1833 and 38.2-1834 of the Code of Virginia address appointments and penalty fees imposed for payments received after the prescribed due date.

Oklahoma:

Oklahoma Insurance Department (OID) will move to State Based Systems (SBS) in June 2011. SBS is a software system designed with state regulation in mind. The product suite offers services for producer licensing, company licensing, consumer services, enforcement, and revenue management. The system will work hand-in-hand with the National Insurance Producer Registry (NIPR). The combined services provide the ability to apply for an original license or to renew an existing license online. During the system change and data migration, all licensing and CE systems will be unavailable from June 1, 2011-June 20, 2011. All licensees have the ability to renew up to 90 days early. The OID recommends anyone whose license is due to renew in the months of June or July take advantage of the ability to renew early and do so prior to May 31, 2011. SBS and NIPR will be operational towards the end of June. Between now and then, the Oklahoma Insurance Department will be providing licensees with periodic updates about the switch to the new system. Watch the Oklahoma Insurance Department website —www.oid.ok.gov – for additional updates.

West Virginia:

Pearson VUE and the West Virginia Insurance Department will be sponsoring a public meeting on Thursday, May 19^th from 9:00 to 11:00 AM at the Embassy Suites Hotel, 300 Court Street in Charleston. The meeting agenda will include a testing program overview, a review of the test development process including updates to the content outlines, and a question & answer session. Register for the meeting by email at shebbra.toussaint@pearson.com.