The Arkansas Insurance Department announced changes to education rules for both established producers and producer license applicants. The effective date for both rules is May 1, 2006.
Rule 31 – Pre Licensing Education For Producers is available for viewing online at www.insurance.arkansas.gov/Legal%20Dataservices/rulesandregs/rnr31.doc.
It establishes curricula for courses of instruction required to be completed by applicants seeking insurance producer licenses in Arkansas and criteria for approval of course providers of the courses of instruction, and establishes a mechanism of examination and review of the performance and quality of the instruction.
The rule applies to insurance producers, including original license applicants or currently-licensed applicants seeking an additional line of authority, which for purposes of this rule shall be deemed to include all who are referred to collectively as insurance producers under the Producer License Model Act (PLMA), Ark. Code Ann. §§23-64-501, et seq.
The rule also applies to:
1. all applicants seeking a license as an insurance producer;
2. all applicants seeking a license as a health maintenance organization (“HMO”) producer, or as a producer for a limited benefit health maintenance organization, except those specifically exempted pursuant to the provisions of Arkansas law. This Rule is intended to complement the provisions of Rule 35, “Agent License for Health Maintenance Organizations”, but is not intended to supersede it;
3. all applicants seeking a license as a fraternal benefit society producer, except those specifically exempted pursuant to the provisions of Arkansas law;
4. all applicants seeking a license as a producer for a hospital or medical service corporation; and
5. all applicants who are producers from another state, and who are not licensed as a producer under the Producer License Model Act, shall be required to comply with this Rule in order to secure any new resident or non-resident producer license.
Exempt from Rule 31 are insurance adjusters, limited adjusters, insurance consultants, surplus line brokers and applicants licensed as a producer in good standing in another state under the Producer License Model Act, who thereafter move to Arkansas, who establish residency within the period required under Arkansas law, and who thereafter apply for a resident producer license.
Rule 50 – Producers Continuing Education is available for viewing online at www.insurance.arkansas.gov/Legal%20Dataservices/rulesandregs/rnr50.doc.
It establishes requirements and standards for continuing education for persons licensed as insurance producers by the Commissioner and applicable to those persons licensed in life, and/or accident and health and sickness (A & H) insurance, property and/or casualty insurance, and personal lines.