Current through Register Vol. 63, No. 9, September 1, 2024
(1) An applicant for a license as an
insurance producer may take an examination for the license only if the
applicant first qualifies for the examination by:
(a) Satisfying pre-licensing education
requirements of section (2) of this rule; or
(b) Satisfying the experience requirements of
section (6) of this rule.
(2) An applicant may qualify for the
examination by taking pre-licensing education meeting the requirements of
section (3) of this rule according to any of the following methods:
(a) Attendance at classroom lectures
supervised and conducted by an instructor;
(b) Attendance at the showing or playing of a
previously videotaped or audiotaped lecture, if student check-in and check-out
are supervised and a course instructor is present or available to answer
student questions; or
(c)
Completion of a verifiable online self-study program.
(3) Pre-licensing education shall consist of
not less than:
(a) 20 hours in basic
principles of property insurance, the duties and responsibilities of an
insurance producer and Oregon-related laws, for authority to transact property
insurance;
(b) 20 hours in basic
principles of casualty insurance, the duties and responsibilities of an
insurance producer and Oregon-related laws, for authority to transact casualty
insurance;
(c) 20 hours in basic
principles of personal lines insurance, the duties and responsibilities of an
insurance producer and Oregon-related laws, for authority to transact personal
lines insurance;
(d) 20 hours in
basic principles of life insurance, the duties and responsibilities of an
insurance producer and Oregon-related laws, for authority to transact life
insurance; and
(e) 20 hours in
basic principles of health insurance, the duties and responsibilities of an
insurance producer and Oregon-related laws, for authority to transact health
insurance.
(4) For the
purposes of sections (2) and (3) of this rule:
(a) One hour of training shall consist of not
less than 50 minutes of instruction;
(b) Surety is included in the casualty
insurance line and marine and transportation insurance may be included in the
property insurance line or the casualty insurance line;
(c) The personal lines line is a subcategory
of the casualty insurance line. Consequently, a person who obtains training for
a license to transact casualty insurance need not obtain separate or additional
training to transact personal lines insurance.
(5) Except as authorized in section (2) of
this rule for an online self-study program, an applicant may not satisfy the
training requirements established in this rule by unsupervised training or by
self-study.
(6) An applicant may
satisfy experience requirements for the examination by either of the methods
described in this section. As provided in section (7) of this rule, an
applicant may substitute successful completion of coursework to obtain an
industry recognized designation for all or part of the experience requirements.
An applicant may also satisfy the experience requirements for the examination
by obtaining an insurance degree from an accredited college or university. The
methods for satisfying experience requirements are as follows:
(a) Obtaining and showing proof of three
years of verifiable experience as an unlicensed person performing the duties
and activities described in OAR
836-071-0280(1) or
(2) in the class or classes of insurance for
which application is made, but only if any part of the experience has occurred
within two years of the date of application for the insurance producer license
in this state; and
(b) Obtaining
and showing proof of three years of licensure as a resident insurance producer,
agent or insurance broker in another state, a province of Canada or Mexico:
(A) If the applicant has been so licensed
within two years of the date of application for the insurance producer license
in this state; and
(B) If the
applicant is not otherwise exempt from taking the examination under ORS
744.067.
(7) An applicant may substitute
successful completion of coursework required for obtaining an
industry-recognized designation described in this section for all or a part of
the number of years of experience required under section (6) of this rule in
the class or classes of insurance for which application was made. The following
are the designations, the amount of experience for which the coursework may be
substituted and the class or classes of insurance to which the coursework may
apply:
(a) Accredited Advisor in Insurance
(AAI) designation of the American Institute for CPCU (Chartered Property and
Casualty Underwriter) and Insurance Institute of America: Three years'
experience property and casualty;
(b) Accredited Customer Service
Representative (ACSR) designation of the Independent Insurance Agents &
Brokers of America: Two years' experience property and casualty;
(c) Associate in Risk Management (ARM)
designation of the American Institute for CPCU (Chartered Property and Casualty
Underwriter) and Insurance Institute of America: Three years' experience
property and casualty;
(d)
Certified Insurance Counselor (CIC) designation of the Society of Certified
Insurance Counselors: Three years' experience property and casualty;
(e) Certified Professional Service
Representative (CPSR) designation of the Professional Insurance Agents
Association: Two years' experience property and casualty;
(f) Health Insurance Associate (HIA)
designation of America's Health Insurance Plans: Three years' experience
health;
(g) Registered Employee
Benefits Consultant (REBC) designation of the American College: Three years'
experience health;
(h) Registered
Health Underwriter (RHU) designation of the National Association of Health
Underwriters/American College: Three years' experience health;
(i) Any registered program that fulfills the
educational requirement leading to the CFP/Certified Financial Planner
certification awarded by the Certified Financial Planner Board of Standards,
Inc.: Three years' experience life lines;
(j) Certified Employee Benefit Specialist
(CEBS) designation of the International Society of Certified Employee Benefit
Specialists: Three years' experience life and health lines;
(k) Life Underwriters Training Council
(LUTCF) designation of the Life Underwriters Training Council/American College:
Three years' experience life and health lines;
(l) Chartered Financial Consultant (ChFC)
designation of the American College: Three years' experience life
line;
(m) Fellow Life Manager
Institute (FLMI) designation of LOMA (Life Office Management Association):
Three years' experience life line;
(n) Certified Professional Insurance Women
(CPIW) designation of the National Association of Insurance Women: Two years'
experience property and casualty lines; and
(o) An industry designation determined by the
Director, by virtue of the coursework, to provide experience at least
comparable to experience obtained by coursework for an industry designation
specifically referred to in this section.
(8) Pretraining experience claimed under
section (6) of this rule is verifiable only if:
(a) The applicant's employer submits to the
Division a completed Division Qualification Form that includes a description of
all the pretraining experience claimed by the applicant; and
(b) The Division is able to contact the
employer to verify the information contained in the Qualification
Form.
(9) Proof of
completion of a training course for an industry designation under section (7)
of this rule must be evidenced by a certificate of completion or notice of a
passing examination score by the organization sponsoring the training.
(10) The amendments to this rule
that were filed in ID 15-2002 with the Secretary of State on June 26, 2002 to
become effective on July 1, 2002 are re-adopted with the operative date of July
1, 2002.
Stat. Auth.: ORS
731.244
Stats. Implemented: ORS
744.058,
744.064 &
744.067
