31 Pa. Code § 37a.9 - License renewals

(a) Renewal generally. A licensee seeking renewal of an insurance producer license shall electronically remit to the department through its approved vendor or authorized representative, a renewal form and the required fee set forth in § 37a.3 (relating to schedule of fees). The department's vendor or authorized representative shall verify that the licensee has completed 24 credit hours of approved continuing education, inclusive of any specific subject matter courses required for a specific line of authority, for each license period, unless otherwise exempted from continuing education requirements under section 608-A(c) of the act (40 P.S. § 310.8(c)).

(b) Renewal licensing period.

(1) An individual insurance producer license shall be renewed biennially based on the last day of the insurance producer's month of birth. The initial license period may vary to coincide with the expiration cycle of the birth month.

(2) A business entity license will expire biennially based on the date of license issuance.

(c) Lapse. A licensee that allows its insurance producer license to lapse by failing to properly renew the license by its expiration date shall conform to one of the following:

(1) If all statutory requirements for renewal are received by the department within 60 days of the license expiration date, the licensee shall be eligible for retroactive reinstatement of the license, with the license effective on the expiration date.

(2) If all statutory requirements for renewal are received by the department more than 60 days, but less than 1 year, from the license expiration date, the licensee shall be eligible for prospective reinstatement of the license, with the license effective on the date of reinstatement.

(3) If the expiration date of the license is longer than 1 year, the licensee shall be required to reapply for a new insurance producer license in accordance with section 605-A of the act (40 P.S. § 310.5).

(d) Waiver. When extenuating circumstances exist that prevent a licensee from complying timely with the license renewal requirements, the licensee may request a waiver in accordance with section 608-A(e) of the act.

Notes

31 Pa. Code § 37a.9

Adopted by Pennsylvania Bulletin, Vol 54, No. 50. December 14, 2024, effective 2/12/2025