The laws regarding insurance producer and adjuster license renewal have changed effective January 1, 2018. Read below for details on the changes, links to appropriate resources, and other information to help ensure your producer or adjuster license stays in compliance per new laws.
Producer and Adjuster License Renewal Update
Insurance Producer Renewals
Insurance producers now only need to file a single license renewal, which will renew all eligible lines on the license. Licenses still renew on the last day of the birth month, but now with the license number determining the renewal year. Licenses that end in an even number renew in even-numbered years and licenses that end in an odd number will renew in odd-numbered years.
Adjuster licenses still renew on the last day of the birth month, but now with the license number determining the renewal year. Licenses that end in an even number renew in even-numbered years and licenses that end in an odd number will renew in odd-numbered years.
Business Entity Renewals
The license renewal date for both producer and claims adjuster business entities is March 31 in an even or odd year based on the license number.
Exception – The renewal date for Portable Electronic licenses is December 31 in odd years.
Continuing Education Requirements
Continuing education is required for resident insurance producers and adjusters. Included in the definition of “resident” are insurance adjusters that have designated Louisiana as their home state for the purpose of licensing. Each producer, adjuster, title, or bail bond license has specific continuing education requirements which must be completed prior to license renewal.
Producers licensed for one or more lines of property, casualty, personal lines, life, or health and accident must complete 24 hours of continuing education. Of these 24 hours, 3 hours must include an approved course on ethics.
Insurance producers with the lines of property, casualty or personal lines must include three hours of education in flood as part of the 24-hour requirement.
Producers licensed for line of title must complete 12 hours of continuing education. Effective with renewals of 2015, producers licensed for title must include two hours on the topic of consumer financial protection as part of the 12-hour requirement.
Adjuster licensees must complete 24 hours of continuing education each cycle, including the mandatory minimum of 3 approved hours in ethics.
Louisiana Insurance License Renewal Fees (Effective January 2018)
Producer Renewal Fee
$50 One Line (other than Surplus Lines)
$55 Two or More Lines (Other than Surplus Lines)
$350 Surplus Lines
$200 Portable Electronics
$50 Penalty for Late Filing
Adjuster Renewal Fee
$50 All Lines
$50 Penalty for Late Filing
New License Renewal Dates and Compliance with Continuing Education
Active licenses with expirations already occurring in 2018 or 2019 were updated to the new even/odd license renewal date at the end of October 2017. What this means is that some licensees that renewed in 2017 will have to renew again in 2018 instead of 2019. Because of the shortened renewal period, these licensees will be exempt from CE compliance for their 2018 renewal and will not be required to comply with continuing education until 2020.
When and How to File a License Renewal
(information from the LDI’s website as of January 2018)
Licensees can file a license renewal online in one of two ways:
Industry Access Portal: Producers and adjusters may file a renewal through the Producer/Adjuster Portal Module located on the LDI’s website at this link for Industry Access. The option for renewal will appear ninety days before expiration of the license. It is strongly recommended that you register in Industry Access in advance of your license expiration. Initial requests for registration take a minimum of 24 hours.
National Insurance Producer Registry: Producers and adjusters may also file online renewals using a credit card through the National Insurance Producer Registry by clicking on this link.
Note to resident licensees with a continuing education requirement: If you hold a line that requires continuing education, you must be in compliance with that requirement before an online renewal can be filed. You will not be able to access online renewal until all continuing education hours are completed and on record with the Department.
The LDI maintains a current database where you can check the status of a previously submitted renewal. The current list of active insurance producers and adjusters is available on the LDI’s website by clicking here.
At the time of license renewal, a licensee may choose not to renew one or more lines on a license. Any lines that are non-renewed will be cancelled from the license.
Cancelled lines may be reactivated at a future time by filing an initial license application. If re-application is within two years of cancellation, the lines may be reissued by complying with any applicable continuing education requirements. If more than two years have passed since the line was cancelled, all applicable pre-license education and license exam requirements would be required.
This article is intended for educational or informative purposes only. While every effort was made to ensure accuracy, laws and regulations can change and licensees should always check with the appropriate entity to ensure proper compliance with the law. Information deemed accurate as of the date of this post including hyperlinks and related resources.