Virginia Code 38.2-1866: Continuing education requirements.
A. Every individual resident and nonresident (i) insurance consultant, (ii) life and annuities insurance agent, (iii) health agent, (iv) property and casualty insurance agent (v) personal lines agent, and (vi) title insurance agent shall, on a biennial basis, furnish evidence as set forth in this article that the continuing education requirements of this article have been satisfied. As used in this article, the term “agent” shall be construed to refer to any of the individual licensees referred to above.
Terms Used In Virginia Code 38.2-1866
- agent: shall be construed to refer to any of the individual licensees referred to above. See Virginia Code 38.2-1866
- Annuities: means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a contract for a stated period of time or for the life of the person or persons specified in the contract. See Virginia Code 38.2-106
- Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Title insurance agent: means an agent licensed in the Commonwealth to sell, solicit, or negotiate title insurance, and performing all of the services set forth in § Virginia Code 38.2-1800
B. Every individual resident and nonresident public adjuster shall, on a biennial basis, furnish evidence as set forth in this article that the continuing education requirements of this article have been satisfied.
C. Any agent who holds a life and annuities license or a health agent license, or both, shall complete 16 hours of relevant continuing education credits.
D. Any agent who holds a personal lines license or a property and casualty license shall complete 16 hours of relevant continuing education credits.
E. Any agent who holds a title agent license shall complete 16 hours of relevant continuing education credits.
F. A public adjuster shall complete 24 hours of relevant continuing education credits.
G. Except as provided in subsection B and § 38.2-1871, any agent who holds licenses from more than one category of licenses identified in subsection A shall complete 24 hours of relevant continuing education credits with a minimum of eight credit hours in each such category.
H. Of the total required credits for each biennium, an agent shall complete three credit hours in insurance ethics, which may include insurance law and regulations applicable in the Commonwealth.
I. Of the total required credits for each biennium, a public adjuster shall complete three credit hours in insurance ethics.
J. Agents may receive no more than 75 percent of their required credits from courses provided by insurance companies or agencies. The Board, in its sole discretion, shall, at the time of course approval, determine whether any particular course shall be considered to be insurance company or agency sponsored and shall require all course sponsors to provide this information clearly and conspicuously to all those enrolling in that course.
1992, c. 570; 1994, c. 175; 1996, c. 159; 1998, c. 46; 1999, c. 86; 2001, c. 706; 2012, c. 294; 2021, Sp. Sess. I, c. 441.