The New York State Department of Financial Services announced today that it has finalized changes to the continuing-education requirements for insurance producers.
What’s new?
All licensees will be required to take at least:
- one hour of insurance law per licensing period;
- one hour of ethics and professionalism per licensing period; and
- one hour of diversity, inclusion, and elimination of bias per licensing period.
New flood insurance requirements
Additionally, the DFS finalized several changes related to flood insurance education. Under the new requirements, all property/casualty licensees will need to complete at least one hour of flood insurance instruction per licensing period, whether they sell flood insurance actively or not. Producers who sell flood insurance actively through the National Flood Insurance Program will need to complete an additional three hours of enhanced flood insurance training per licensing period.
What’s next?
The regulation takes effect Friday, Nov. 12, 2021, and it applies to producers with licenses renewing on or after April 1, 2022. To comply with this regulation, watch your PIANY education schedule to register for classes that will satisfy these requirements.
