Everyone knows they need 24 CE credits by the end of their birth month every two years. But do they know what CE they need based on the lines of authority they have and the types of policies they write? In my experience, the answer is often no. During my years at PIIAC, there are a few CE requirements that I have found people don’t know about or are confused about. Let’s take a moment to clear up some of these requirements for P&C agents.
One CE rule I find that no one is aware of is that a newly licensed individual DOES NOT need to acquire CE until they renew their license for the first time. All CE requirements for license renewal are waived until the license has been renewed for the first time. Now, this doesn’t mean a newly licensed individual shouldn’t attend CE classes to gain more knowledge; it just means they do not need to worry about fulfilling the CE requirements.
Any Colorado resident producer that sells, consults or adjusts any claims-made policies are required to complete a one-time, two-hour course specifically on claims-made policies. Most licensed agents are not aware of this policy. Since the claims-made course needs to be fulfilled only one time during one’s career, we recommend keeping the course completion certificate for that course in your records as proof of compliance. We are offering a two-hour approved course March 26, 2020. Click here to register.
Colorado also has a flood CE requirement for those selling federal flood insurance policies. I have found that most people are aware of this requirement, but don’t realize they only need to complete a three-hour federal flood insurance training course one-time during their career. Again, we recommend maintaining the certificate of completion in your records as proof of compliance.
The final item that has been confusing to agents is the relatively new homeowners CE rule. Effective 1/1/2014, all P&C licensed agents are required to complete a three-hour homeowners CE course each renewal cycle. The question I always get is “is this homeowners class THE HOMEOWNERS class I need to take for my license?” To clarify, there isn’t one homeowners course that needs to be taken or “THE HOMEOWNERS class.” You simply must complete a three-hour course that is approved for homeowners CE. This requirement works the same way the ethics requirement works. There isn’t one ethics course you must complete each renewal cycle, but rather you must take a course approved for ethics CE.
As always, we recommend keeping your course completion certificates on file and remember, you can’t complete the same course twice in a 24-month period.
At any time, you can access your CE transcript to see what CE you currently need to renew your license. You are also able to view your old transcripts to see what courses you have taken in the past. All of this can be done at Sircon.com under the Look Up Courses or Transcript button.
Your PIIAC team is always here to answer any CE questions you might have as well as finding the courses you need to satisfy all your CE requirements. Reach out to us anytime via email or phone – 303.512.0627.
This article was published in the November 2019 edition of Colorado Insurance News (COIN). To view more articles and read the whole COIN, click here.