HB 4324

Abstract

Amends the Illinois Insurance Code. In provisions concerning insurance producer licenses, provides that an insurance producer's active participation in a State or national professional insurance association may be approved by the Director of Insurance for up to 4 hours of continuing education credit per biennial reporting period. Provides that the hours shall be credited upon timely filing with the Director or his or her designee on a biennial basis, the credit shall not be used to satisfy ethics education requirements, and active participation in a State or national professional insurance association is defined by specified methods. House Floor Amendment No. 1 Replaces everything after the enacting clause with the provisions of the introduced bill with the following changes. In provisions concerning insurance producer licenses, provide that before each license renewal, an insurance producer must satisfactorily complete at least 24 hours of course study or participation in a professional insurance association (instead of 24 hours of course study) in accordance with rules prescribed by the Director. Provides that credit for participation in a professional insurance association shall be provided on an hour-for-hour basis. Requires the hours to be verified and submitted by the professional insurance producer on behalf of the insurance producer. Provides that any association submitting continuing education credit hours on behalf of producers must be registered as an education provider.