The bill amends the Michigan Insurance Code of 1956, specifically section 1204c, to revise the continuing education requirements for insurance producers seeking license renewal. It establishes that the director may implement a staggered schedule for license continuation, allowing for extensions for certain licensees. Insurance producers are required to complete a minimum of 24 hours of continuing education every two years, which must include at least three hours focused on ethics. The bill also introduces provisions for waiving these requirements under specific circumstances, such as military service or severe hardship, thereby providing flexibility for producers.

Additionally, the bill allows insurance producers to earn up to four hours of continuing education credit for active participation in professional insurance associations. It outlines the approval and monitoring process for continuing education programs and instructors, granting the director the authority to refuse or revoke approval based on violations. The bill also clarifies the definitions of "insurance producer," encompassing both life-health agents and property-casualty agents, to enhance understanding and compliance within the insurance industry.

Statutes affected:
House Introduced Bill: 500.1204
As Passed by the House: 500.1204