The Professional Insurance Agents of New York State Inc. (PIANY) said New York State Assembly has introduced a PIANY-drafted bill (A.10378) that would eliminate the need for agents and brokers to take duplicate continuing-education courses for both their individual and agency insurance licenses.
The bill, introduced by Assemblyman and Insurance Committee Chair Kevin A. Cahill, D-103, was referred to the Insurance Committee.
The bill would amend the CE requirements to allow a business-entity license to be renewed without CE credits if all entity sublicensees have a valid and appropriate insurance license at the time of the entity’s license renewal date. A companion bill will be introduced in the state Senate by Senate Insurance Committee Chairman Sen. James L. Seward, R-51.
“Currently, insurance agency owners are required to ‘double down’ on continuing education during overlapping two-year licensing periods for both individual and business entity licenses,” said PIANY President Gene Sandy.
“This legislation would remedy the cumbersome and confusing CE compliance for licensees holding multiple individual and business-entity licenses,” Sandy said.
PIANY said its members have sought remedy to the CE/agent and business-entity licensing issue since 2005, when the state transitioned from a set licensing renewal date to a birthdate licensing renewal date — a transition that was completed in 2012.
“PIANY praises Assemblyman Cahill and Sen. Seward for introducing this legislation that will ease the burdens on professional, independent insurance agents,” said Sandy. “We encourage the Legislature to work toward passing this bill into law as it would ease a significant burden to small businesses throughout New York state.”
PIANY is a trade association representing professional, independent insurance agencies, brokerages and their employees throughout New York.
Source: The Professional Insurance Agents of New York State Inc.
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