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A117Assembly2017-2018 SessionSame asS1314

Update Insurance Education Rules

Official title

“Relates to continuing education for agents, brokers, and adjusters”

Sponsor Kevin CahillAD-103+3 co-sponsorsAffects Legal
Status
Signed by Governor
Impact
3/10
Low
Outcome
Signed into law

Bill progress

Signed into law

What's happening

This bill allows insurance firms to meet continuing education requirements if all sub-licensees comply or hold equivalent individual licenses.

Why it matters

  1. Streamlines compliance for insurance firms. By allowing firms, associations, or corporations to meet continuing education (CE) requirements collectively—if all their sub-licensees are individually compliant or hold equivalent licenses—the bill reduces redundant paperwork and administrative burden for organizations.

  2. Potentially boosts professional standards. Because every sub-licensee must either complete their own CE or hold a full individual license in the relevant area, the bill could lead to higher overall competency and accountability within insurance teams.

  3. Gives regulators more flexibility. The bill explicitly empowers the Superintendent of Financial Services to set additional rules and regulations, which means the state can adjust requirements as industry practices or risks evolve.

  4. May make hiring and management more flexible. Firms might be more willing to employ or assign responsibilities to staff who already meet CE or licensing requirements, potentially leading to a more adaptable workforce within insurance agencies.

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Who cares

Headline styles

Update Insurance Education Rules

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Kevin Cahill

Assembly Member · Assembly District 103

History

  1. Signed chap.274
  2. Delivered to governor
  3. Returned to assembly
  4. Passed senateVote 62–0
  5. 3rd reading cal.430
  6. Substituted for S1314A
  7. Referred to rules
  8. Delivered to senate
  9. Passed assembly
  10. Ordered to third reading rules cal.201
  11. Rules report cal.201
  12. Reported
Show 5 earlier actions
  1. Reported referred to rules
  2. Reported referred to codes
  3. Print number 117a
  4. Amend (t) and recommit to insurance
  5. Referred to insurance

Companion bill

The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.

S1314Senate

Update Insurance Education Rules

Senate Floor Calendar · Sponsor James L. Seward

Impact 3 · Low0% to pass

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

117--A

2017-2018 Regular Sessions

IN ASSEMBLY (Prefiled)

January 4, 2017

Introduced by M. of A. CAHILL, SKOUFIS, DiPIETRO -- read once and referred to the Committee on Insurance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee

AN ACT to amend the insurance law, in relation to continuing education for agents, brokers, and adjusters

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Section 2132 of the insurance law is amended by adding a new subsection (k) to read as follows:

(k)(1) For any biennial licensing period, a firm, association or corporation that is a licensee subject to this section shall be deemed to satisfy the continuing education requirements in this section with respect to that license provided that, as of the date of the biennial renewal date of the licensee's license, every sub-licensee of the licensee either:

(i) satisfies the continuing education requirements in subsection (c) of this section; or

(ii) has an individual license under this article with the same lines of authority for which the individual is a sublicensee of the licensee.

(2) The superintendent may issue such rules and regulations as the superintendent deems necessary to implement the terms of this subsection.

§ 2. This act shall take effect December 1, 2018, provided, however, that the superintendent of financial services shall promulgate any rules and regulations necessary for the implementation of this act on or before such effective date.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD01663-02-7

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.