W. Va. Code R. § 114-42-6

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-42-6 - Insurance Producer and Insurance Adjuster Continuing Insurance Education Exceptions; Extensions of Time; Cancelled License Procedures; and Reciprocity

6.1. The Commissioner shall refuse to renew the appointments or issue new appointments for those lines of insurance specified in section 3 of this rule to any individual insurance producer who does not satisfy the minimum continuing insurance education requirements.

6.2. An individual insurance producer or individual insurance adjuster who is required to complete more than six hours of continuing education biennially and who exceed the minimum continuing education requirement for the biennial reporting period may carryover a maximum of six (6) credit hours into the next reporting period when the producer or adjuster has exceeded the minimum continuing education requirements for the current biennial reporting period.

6.3. Any individual insurance producer or individual insurance adjuster who has not complied with the continuing insurance education requirements by the end of the reporting period may thereafter obtain credit hours to be carried back to meet the requirements of the preceding reporting period. The Commissioner will assess a late submission fee of five dollars ($5.00) for each continuing insurance education credit hour obtained and submitted after the reporting period which are to be carried back to satisfy the requirements of the preceding reporting period.

6.4. A continuing insurance education course shall not qualify for use as continuing insurance education credit unless it is filed with and approved by the Commissioner and the Board.

6.5. An individual insurance producer or individual insurance adjuster who has an active annual membership in an organization or association recognized and approved by the Commissioner as a state, regional or national professional insurance organization or association may be approved by the Commissioner for up to two (2) credit hours of continuing insurance education in each biennial reporting period.

6.5.1. In determining whether to approve an organization's application for approval under this subsection, the Commissioner should consider:

6.5.1.a. The purpose and goals of the organization;

6.5.1.b. The extent to which the organization makes educational opportunities available to its members;

6.5.1.c. The degree to which the members participate in educational programs;

6.5.1.d. The extent to which the organization's educational programs and materials advance the knowledge of insurance-related topics; and

6.5.1.e. Any other criteria that the Commissioner deems advisable.

6.5.2. There shall not be more than one (1) credit hour of continuing insurance education awarded to an individual insurance producer or individual insurance adjuster per twelve (12) consecutive months' active membership in a professional insurance organization during a biennial reporting period.

6.5.3. Credit for continuing insurance education pursuant to this subsection may only be awarded to individual insurance producers or individual insurance adjusters who are required to complete more than six (6) hours of continuing education biennially. Requests for approval of credit pursuant to this subsection and for recognition and approval as an eligible organization must be made in the manner prescribed by the Commissioner on forms available on the West Virginia Offices of the Insurance Commissioner's website.

6.6. The Commissioner may, upon application and for good cause shown, grant an individual insurance producer or individual insurance adjuster an extension of time in which to meet the continuing insurance education requirements. Extensions may be granted for the following reasons:

6.6.1. The individual insurance producer or individual insurance adjuster has been engaged in active military duty outside the state for at least twelve (12) months during the biennium;

6.6.2. The individual insurance producer or individual insurance adjuster was or has become physically or mentally temporarily or permanently disabled by injury, illness or disease and was unable to perform adequately the duties required of him or her as a licensed individual insurance producer or individual insurance adjuster for a period of at least twelve (12) months during the biennium; or

6.6.3. Any such other reason as the Commissioner may determine on a case-by-case basis as constituting good cause.

6.7. An individual insurance producer or individual insurance adjuster should submit a request for an extension of time in which to meet the continuing insurance education requirements to the Commissioner in writing at least thirty (30) days prior to the last day of the reporting period and shall include in the request an explanation together with reasonable verification of the hardship rendering an extension necessary.

6.8. Individual insurance producers who have a cancelled license or an expired license pursuant to W. Va. Code § 33-12-17 shall successfully complete pre-licensing education and examination before qualifying for a new license, and shall thereafter successfully complete the continuing insurance education credits required pursuant to W. Va. Code § 33-12-1et seq. and the guidelines established by the Board. Individual insurance adjusters who have a cancelled license or an expired license pursuant to W. Va. Code § 33-12B-13 shall successfully complete examination before qualifying for a new license, and shall thereafter successfully complete the continuing insurance education credits required pursuant to W. Va. Code § 33-12B-1et seq. and the guidelines established by the Board.

6.8.1. No individual insurance producer or individual insurance adjuster may allow his or her license to expire as a means to circumvent the mandatory continuing education requirements.

6.9. The Commissioner shall recognize the continuing insurance education requirements obtained by an individual insurance producer during the reporting period through an approved provider of another state only in those instances where all the following conditions are met:

6.9.1. The individual insurance producer is a former resident, individual insurance producer who was licensed and in good standing in this state at the time his or her license was surrendered;

6.9.2. The individual insurance producer is currently licensed in good standing in another state and has been so licensed since leaving West Virginia; and

6.9.3. The individual insurance producer is in the process of establishing residency in West Virginia and has requested to have his or her resident individual insurance producer's license reinstated.

6.10. The Commissioner shall recognize the continuing insurance education requirements obtained by an individual insurance adjuster during the reporting period through an approved provider of another state only in those instances where both of the following conditions are met:

6.10.1. The individual insurance adjuster obtained the continuing insurance education through an approved provider of another state while a resident adjuster in that state; and

6.10.2. The individual insurance adjuster has since established residency in West Virginia and is licensed and in good standing in West Virginia.

W. Va. Code R. § 114-42-6