N.Y. Comp. Codes R. & Regs. tit. 11 § 20.7

Current through Register Vol. 46, No. 45, November 2, 2024

Section 20.7 - Continuing education requirements

(a) For purposes of this section:

(1) Diversity, inclusion, and elimination of bias instruction means courses or programs of instruction and seminars related to being a licensee that include implicit and explicit bias; equal access to justice; serving a diverse population; diversity and inclusion initiatives in the insurance industry; and sensitivity to cultural and other differences when interacting with clients, potential clients, or other members of the public.

(2) Enhanced flood insurance instruction means courses or programs of instruction and seminars related to being a licensee and the sale of flood insurance through the NFIP that include instruction on NFIP coverage, limits, and rates, including coverage for dwellings in urban environments; annual updates to the NFIP; measures to improve flood insurance affordability; the impact of climate change on flood risk and the NFIP; and the NFIP claims process, including the role of adjusters. Enhanced flood insurance instruction shall not include the minimum training requirements of section 207 of the Flood Insurance Reform Act of 2004 or basic flood education as outlined or published by the Federal Emergency Management Agency.

(3) Ethics and professionalism instruction means courses or programs of instruction and seminars related to a licensee that includes a licensee's professional obligations to clients and potential clients; the sources of a licensee's professional obligations, such as the Insurance Law and regulations promulgated thereunder and court decisions; recognition and resolution of ethical dilemmas; the mechanisms for enforcing professional norms; substance abuse control; and professional values, such as professional development, improving the profession, and the promotion of fairness, justice, and morality.

(4) Flood insurance instruction means courses or programs of instruction and seminars related to a licensee and the sale of flood insurance through the NFIP, including the minimum training requirements of section 207 of the Flood Insurance Reform Act of 2004 and basic flood education as outlined or published by the Federal Emergency Management Agency.

(5) Insurance Law instruction means courses or programs of instruction and seminars related to a licensee that include an overview of the provisions of the Insurance Law and regulations promulgated thereunder that are relevant to a licensee, such as Insurance Law sections 2102, 2114, 2115, 2116, 2117, 2119, 2120, 2122, 2324, 4224, and 6409, Insurance Law Article 26, this Part, and Parts 25, 30, 34, 35, and 224 of this Title.

(6) Licensee means a person who or that is licensed under Insurance Law article 21 and subject to the continuing education requirements set forth in Insurance Law article 21.

(7) NFIP means the National Flood Insurance Program.

(b) Of the 15 credit hours of instruction that a licensee shall complete in accordance with Insurance Law article 21, the licensee shall satisfactorily complete courses or programs of instruction or attend seminars, as the superintendent may approve, that provide:

(1) at least one hour of Insurance Law instruction;

(2) at least one hour of ethics and professionalism instruction;

(3) at least one hour of diversity, inclusion, and elimination of bias instruction;

(4) at least one hour of flood insurance instruction, if the licensee is licensed to sell one or more lines of property/casualty insurance; and

(5) at least three hours of enhanced flood insurance instruction, if the licensee sells flood insurance through the NFIP.

(c) The requirements set forth in subdivision (b) of this section shall apply to a licensee whose license renews on or after April 1, 2022.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 20.7

Adopted New York State Register October 13, 2021/Volume XLIII, Issue 41, eff. 11/12/2021