Minnesota Commerce Commissioner Jim Bernstein announced that due to a strike by state employee unions that slowed license-processing procedures, insurance agent licenses that were set to expire on Oct. 31 will remain in effect until Jan. 29, 2002.
Bernstein said that although the strike has now ended and processing of insurance agent renewals has resumed, all of the renewals will not be completed by the end of the month. He added that the licenses were extended in order to prevent Minnesota consumers from experiencing any interruption in service from licensed insurance agents.
Insurance agent licenses are effective for two years. The department processes the renewals of approximately half of Minnesota’s 63,741 licensed insurance agents each year. This year, approximately 34,000 insurance agents are expected to renew their licenses.
The extension applies only to insurance agents who have submitted the proper renewal paperwork and fees to the department by Oct. 31.
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