The Professional Insurance Agents of New Jersey Inc. has updated its online Agency Handbook to include the New Jersey Department of Banking and Insurance’s newly adopted and amended regulations implementing the Producer Licensing Act of 2001.
The act and regulations are based on the National Association of Insurance Commissioners’ Producer Licensing Model Act and creates a system of reciprocity for producer licensing, supports uniform standards for key areas of producer licensing, enhances efficiency and facilitates the support of NAIC technological regulatory initiatives.
“Keeping our members up to date with the new legislation and its amendments is important,” said David Madara, CPCU, AAI, president, PIANJ in a written statement. “Posting this information on our Web site allows us to issue the information to our members as quickly as possible.”
“Other topics of interest in the online Agency Handbook include: electronic record keeping requirements, producer contract amendments, changes to commission and fee rules, and amendments to the definition of a completed written application,” said the bulletin.
It also noted that “The PIANJ Agency Handbook is a member-exclusive benefit and can be accessed at: http://www.piaonline.org/NJ/HandBook/IndexHB.shtml. To register for PIANJ’s Web site, visit www.piaonline.org/register-m.shtml and complete the short online form.”
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