This text of Indiana § 27-1-15.7-5 (Certified prelicensing courses of study) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(a)To qualify as a certified prelicensing
course of study for purposes of IC 27-1-15.6-6, an insurance producer
program of study must meet all of the following criteria:
(1)Be conducted or developed by an:
(A)insurance trade association;
(B)accredited college or university;
(C)educational organization certified by the insurance producer
education and continuing education commission; or
(D)insurance company licensed to do business in Indiana.
(2)Provide for self-study or instruction provided by an approved
instructor in a structured setting, as follows:
(A)For life insurance producers, not less than twenty (20)
hours of instruction in a structured setting or comparable
self-study on:
(i)ethical practices in the marketing and selling of insurance;
(ii)requirements of the insurance
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(a) To qualify as a certified prelicensing
course of study for purposes of IC 27-1-15.6-6, an insurance producer
program of study must meet all of the following criteria:
(1) Be conducted or developed by an:
(A) insurance trade association;
(B) accredited college or university;
(C) educational organization certified by the insurance producer
education and continuing education commission; or
(D) insurance company licensed to do business in Indiana.
(2) Provide for self-study or instruction provided by an approved
instructor in a structured setting, as follows:
(A) For life insurance producers, not less than twenty (20)
hours of instruction in a structured setting or comparable
self-study on:
(i) ethical practices in the marketing and selling of insurance;
(ii) requirements of the insurance laws and administrative
rules of Indiana; and
(iii) principles of life insurance.
(B) For health insurance producers, not less than twenty (20)
hours of instruction in a structured setting or comparable
self-study on:
(i) ethical practices in the marketing and selling of insurance;
(ii) requirements of the insurance laws and administrative
rules of Indiana; and
(iii) principles of health insurance.
(C) For life and health insurance producers, not less than forty
(40) hours of instruction in a structured setting or comparable
self-study on:
(i) ethical practices in the marketing and selling of insurance;
(ii) requirements of the insurance laws and administrative
rules of Indiana;
(iii) principles of life insurance; and
(iv) principles of health insurance.
(D) For property and casualty insurance producers, not less than
forty (40) hours of instruction in a structured setting or
comparable self-study on:
(i) ethical practices in the marketing and selling of insurance;
(ii) requirements of the insurance laws and administrative
rules of Indiana;
(iii) principles of property insurance; and
(iv) principles of liability insurance.
(E) For personal lines producers, a minimum of twenty (20)
hours of instruction in a structured setting or comparable
self-study on:
(i) ethical practices in the marketing and selling of insurance;
(ii) requirements of the insurance laws and administrative
rules of Indiana; and
(iii) principles of property and liability insurance applicable
to coverages sold to individuals and families for primarily
noncommercial purposes.
(F) For title insurance producers, not less than ten (10) hours of
instruction in a structured setting or comparable self-study on:
(i) ethical practices in the marketing and selling of title
insurance;
(ii) requirements of the insurance laws and administrative
rules of Indiana;
(iii) principles of title insurance, including underwriting and
escrow issues; and
(iv) principles of the federal Real Estate Settlement
Procedures Act (12 U.S.C. 2608).
(G) For annuity product producers, not less than four (4) hours
of instruction in a structured setting or comparable self-study
on:
(i) types and classifications of annuities;
(ii) identification of the parties to an annuity;
(iii) the manner in which fixed, variable, and indexed annuity
contract provisions affect consumers;
(iv) income taxation of qualified and non-qualified annuities;
(v) primary uses of annuities; and
(vi) appropriate sales practices, replacement, and disclosure
requirements.
(3) Instruction provided in a structured setting must be provided
only by individuals who meet the qualifications established by the
commissioner under subsection (b).
(b) The commissioner, after consulting with the insurance producer
education and continuing education commission, shall adopt rules
under IC 4-22-2 prescribing the criteria that a person must meet to
render instruction in a certified prelicensing course of study.
(c) The commissioner shall adopt rules under IC 4-22-2 prescribing
the subject matter that an insurance producer program of study must
cover to qualify for certification as a certified prelicensing course of
study under this section.
(d) The commissioner may make recommendations that the
commissioner considers necessary for improvements in course
materials.
(e) The commissioner shall designate a program of study that meets
the requirements of this section as a certified prelicensing course of
study for purposes of IC 27-1-15.6-6.
(f) For each person that provides one (1) or more certified
prelicensing courses of study, the commissioner shall annually
determine, of all individuals who received classroom instruction in the
certified prelicensing courses of study provided by the person, the
percentage who passed the examination required by IC 27-1-15.6-5.
The commissioner shall determine only one (1) passing percentage
under this subsection for all lines of insurance described in IC 27-1-15.6-7(a) for which the person provides classroom instruction in
certified prelicensing courses of study.
(g) The commissioner may, after notice and opportunity for a
hearing, do the following:
(1) Withdraw the certification of a course of study that does not
maintain reasonable standards, as determined by the
commissioner for the protection of the public.
(2) Disqualify a person that is currently qualified under
subsection (b) to render instruction in a certified prelicensing
course of study from rendering the instruction if the passing
percentage calculated under subsection (f) is less than forty-five
percent (45%).
(h) Current course materials for a prelicensing course of study that
is certified under this section must be submitted to the commissioner
upon request, but not less frequently than once every three (3) years.