3 Colo. Code Regs. § 702-1-2-4-4

Current through Register Vol. 47, No. 22, November 25, 2024

Section 3 CCR 702-1-2-4-4 - Definitions

A. "Approved course" means, for the purpose of this regulation, a course offered for continuing education credit that is approved by the Division of Insurance.

B. "Credit hour" means, for the purpose of this regulation, a value assigned to an approved course.

C. "Carryover credit hour" means, for the purpose of this regulation, a credit hour earned over and above the twenty-four (24) hours of continuing education required during the one hundred twenty (120) days before the licensing continuation date, which may be applied to the next continuing education period. If a producer chooses to complete continuing education courses in the period prior to their first continuation, these credits are not eligible for carry over.

D. "Classroom course" means, for the purpose of this regulation, at least sixty (60) minutes of participation in an approved course in a classroom. Not more than ten (10) minutes of any sixty (60) minute period may be used for breaks, roll taking, or administrative instructions. Classroom course includes a course offered by live video conference or webcast if the technology allows for communication between and among the participants and instructor and the participant's attendance and participation is monitored.

E. "Competency examination" means, for the purpose of this regulation, a closed book examination taken and passed by a producer without assistance and personally monitored by a disinterested third party.

F. "Continuing Education Administrator" means, for the purpose of this regulation, Pearson VUE whose mailing address is 3131 South Vaughn Way, Suite 205, Aurora, Colorado 80014.

G. "Disinterested third party" means, for the purpose of this regulation, someone who is not:

1. A minor;

2. A relative of the producer;

3. The immediate supervisor of the producer; or

4. A person with an economic or other interest in ensuring the successful outcome of a competency examination. Being employed by the same company or working for the same employer does not mean a person has an economic or other direct interest in ensuring the successful outcome of the examination. Co-employees or co-workers of a producer taking a competency examination may administer the examination so long as the other requirements of this paragraph are met and such co-employee or co-worker does not work on a regular basis with the producer in a marketing or sales capacity.

H. "Division" shall mean, for the purpose of this regulation, the Colorado Division of Insurance.

I. "Insurance producer" or "producer" shall have the same meaning as found at § 10-2-103(6), C.R.S.

J. "Public adjuster" shall have the same meaning as found at § 10-2-103 (8.5), C.R.S.

K. "Qualified instructor" means, for the purpose of this regulation, a person who has demonstrated competency in the subject matter of an approved course through one of the following means:

1. A college degree from an accredited institution of higher learning with a major in insurance;

2. A professional designation of CLU or CPCU or similar designation from an industry association; or

3. Three (3) or more years practical experience in the subject matter being taught or monitored.

Qualified instructors shall not have been subject to any order of revocation, suspension or other formal disciplinary action in any state.

L. "Self-study course" means, for the purpose of this regulation, a course that involves book study, video study, computer based training or other means of training and education where a qualified instructor is not present. Self-study courses must include an examination and the examination is subject to the requirements of a competency examination.

M. "Sponsor" means, for the purpose of this regulation, the person or entity primarily responsible for conducting the course and maintaining records of successful course completion. A sponsor may be an institution, organization or instructor.

3 CCR 702-1-2-4-4

37 CR 11, June 10, 2014, effective 6/30/2014

37 CR 11, June 10, 2014, effective 7/1/2014

38 CR 09, May 10, 2015, effective 6/1/2015

38 CR 20, October 25, 2015, effective 11/15/2015

40 CR 19, October 10, 2017, effective 11/1/2017

40 CR 21, November 10, 2017, effective 12/1/2017

40 CR 21, November 10, 2017, effective 1/1/2018

41 CR 21, November 10, 2018, effective 12/1/2018

43 CR 21, November 10, 2020, effective 12/1/2020

45 CR 21, November 10, 2022, effective 11/30/2022