Effective Date Approaching in Okla. for New Resident Producer Rule

Rules affecting new resident producer license applicants in Oklahoma will be implemented Nov. 1, 2007, the Oklahoma Department of Insurance announced.

Beginning on that date applicants for a resident producer license must satisfy one of the following:

1. Fulfill the requirements for a provisional license, including:
a. Completion of an application for a provisional license. The application may be submitted electronically or in paper form.
b. Sponsorship by an actively licensed resident producer who is in good standing.
c. Completion of eight (8) hours of approved pre-licensing education in insurance agency administration, ethics and fiduciary responsibility. The OID will specify course content.
d. Upon completion of a. through c. above, applicants may submit ytheir application for a full producer license electronically or in paper form.

2. Participate in a training program with an insurance company that has been approved by the Oklahoma Insurance Department.

The procedures for approval of pre-licensing education courses will be the same as for continuing education providers and courses.

For insurance company training programs, requirements will be specified in an affidavit that will qualify the program for approval. The affidavit must be approved by Emergency Rule.

For more information, visit the OID Web site at www.oid.state.ok.us.