Sec. 4. (a) The commissioner shall approve and disapprove continuing education courses after considering recommendations made by the insurance producer education and continuing education advisory council created under section 6 of this chapter.

     (b) The commissioner may not approve a course under this section if the course:

Terms Used In Indiana Code 27-1-15.7-4

  • Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
  • Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
  • Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) is designed to prepare an individual to receive an initial license under this chapter;

(2) concerns only routine, basic office skills, including filing, keyboarding, and basic computer skills; or

(3) may be completed by a licensee without supervision by an instructor, unless the course involves an examination process that is:

(A) completed and passed by the licensee as determined by the provider of the course; and

(B) approved by the commissioner.

     (c) The commissioner shall approve a course under this section that is submitted for approval by an insurance trade association or professional insurance association if:

(1) the objective of the course is to educate a manager or an owner of a business entity that is required to obtain an insurance producer license under IC 27-1-15.6-6(d);

(2) the course teaches insurance producer management and is designed to result in improved efficiency in insurance producer operations, systems use, or key functions;

(3) the course is designed to benefit consumers; and

(4) the course is not described in subsection (b).

     (d) Approval of a continuing education course under this section shall be for a period of not more than two (2) years.

     (e) A prospective provider of a continuing education course shall pay:

(1) a fee of forty dollars ($40) for each course submitted for approval of the commissioner under this section; or

(2) an annual fee of five hundred dollars ($500) not later than January 1 of a calendar year, which entitles the prospective provider to submit an unlimited number of courses for approval of the commissioner under this section during the calendar year.

The commissioner may waive all or a portion of the fee for a course submitted under a reciprocity agreement with another state for the approval or disapproval of continuing education courses. Fees collected under this subsection shall be deposited in the department of insurance fund established under IC 27-1-3-28.

     (f) A prospective provider of a continuing education course may electronically deliver to the commissioner any supporting materials for the course.

     (g) The commissioner shall adopt rules under IC 4-22-2 to establish procedures for approving continuing education courses.

As added by P.L.132-2001, SEC.4. Amended by P.L.57-2005, SEC.1; P.L.148-2017, SEC.3.

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