Continuing
education
If your license is expiring January 31, 2007, or thereafter, 45 to 60 days prior to renewal, you will be receiving notice that your license will change from a 4 year to a 2 year license.
Effective with insurance producer licenses issued or renewed on or after January 1, 2007 the expiration dates for new and existing individual licensees will be biennial on the last day of the birth month of the producer , and for business entity licensees biennial on May 31. If the term of the license for new producers or those transitioning to the biennial license would be less than 18 months if renewed the second birth month (or May 31 for agencies) following issuance or renewal, the license will instead expire the following birth month (or May 31 for agencies).
For example, a producer renewing February 1, 2007, who was born in April would have a license term less than 18 months if he renewed in the second birth month following his renewal (April 2008). Therefore his next renewal will be April 2009. But if the producer was born in November instead, his renewal will be the second birth month following issuance, or November 2008, since that is more than 18 months.
Fees for licenses will be half the fee of the prior 4 year licenses. In addition all renewals can be processed online . Our new rules require an additional license processing fee for requests for manual processing of your license application or renewal.
Producer Licensing Renewals
Approximately 30 days prior to the renewal date, producers will receive a renewal notice from the Department. The renewal notice will provide detailed information to producers regarding the on line renewal process.
The Department has offered the online renewal service to Producers for more than a year. Producers have found the method to be expeditious, efficient, and time saving. In addition, it provides the opportunity to producers to use a credit card (Visa, MasterCard, or American Express) to pay for the renewal fee. Resident applicants for a new or renewal producer license may also pay licensing fees via oCheque. All business entities are reminded that failure to have a Designated Responsible Licensed Producer with an active New Jersey License will delay the renewal process. Any licensee not able to renew online may submit a paper renewal application form to the Department. We appreciate your patience if you must renew manually and encourage you to submit your renewal early to avoid any delays.
Disabled Veterans and Public Adjusters must renew manually.
CIC compliance procedure
People who have obtained
their Certified Insurance Counselor (CIC) designation from the Society
of Certified Insurance Counselors can satisfy their New Jersey CE
requirement by fulfilling the Society's requirements for maintaining
their CIC.
After CIC designees
attend an institute, the Society will send them documentation which
proves they have met their professional designation update obligations.
The individual then sends the document to the department where the
information is recorded. A portion of the document is returned for
the individual's records.
Since the person
who is maintaining a CIC designation is sending documentation directly
to the department rather than the department's vendor, Assessment
Systems Inc. (ASI), CIC seminars will not appear on an ASI report.
However, compliance with CIC maintenance requirements will keep the
person in full compliance with New Jersey's CE requirements.
CE
pitfalls to avoid
You can avoid some
pitfalls in complying with New Jersey's CE requirement by following
these guidelines:
1.
Check your course numbers. Don't take a CE course with
the same Insurance Department assigned code number twice. Be sure
to record the course title, number of CE credits and the course code
each time you take a course.
New Jersey's banking
system will accept a course code only once during any given four-year
licensing period. If you take courses with identical course codes
twice in four years, you won't get credit for one of them.
2.
Avoid procrastinating. Note that all CE credits should
actually be accumulated at least six months prior to your license
renewal. The Department of Banking and Insurance will start checking
for accumulated CE credits several months prior to the producer's
renewal date.
3.
Be consistent! Use your full name, exactly as it appears
on your license, when registering for a CE course. If there is any
difference whatsoever, ASI will not get a "match" from your CE provider's
report of your attendance, and you will have problems verifying your
CE compliance. [11:17-3.4]
