Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Virginia Insurance Continuing Education (CE) Requirements

Mailing Address:
P.O. Box 1157
Richmond, Virginia 23218-1157

Physical Address:
Tyler Building, 1300 E. Main St.
Richmond, Virginia 23219
(804) 371-9741 or 1-800-552-7945 (VA Only)
General Inquiries: BureauOfInsurance@scc.virginia.gov
Agent Licensing: AgentLicensing@scc.virginia.gov

Transcript: https://www.sircon.com/ComplianceExpress/NonSscrbEducation/index.jsp?nonSscrb=Y&sscrbid=9999

Effective April 1, 2017, licensed agents selling annuity products will be required to complete a one-time four-credit training course on annuity suitability on or before January 1, 2018. Agents licensed on or after January 1, 2018 will be required to complete the training prior to the sale of annuity products. Non-residents are exempt if they have already completed "substantially similar" training in their home state.

The Bureau has determined that resident agents may meet this training requirement by completing an approved training course – one that has either been approved in Virginia or in another state since that state’s adoption of the 2010 or 2015 NAIC Suitability in Annuity Transactions Model Regulation – prior to the relevant deadline.

The Bureau acknowledges that this is a change from its prior interpretation of these provisions as requiring that licensed resident agents complete a Virginia-approved training course between April 1, 2017 and January 1, 2018. Non-residents are exempt if they have already completed "substantially similar" training in their home state.

Agents wishing to sell long-term care partnership policies in Virginia must complete an initial 8 hour training program prior to selling long-term care Partnership policies and 4 hours of ongoing training biennially thereafter. The training must be approved for continuing education and follow the content guidelines established by rule. Two of the hours of both the initial and ongoing training must consist of Virginia specific content. Training completed for another state can be used to satisfy the non Virginia-specific portion as long as the training is CE approved and identified as CE for long-term care. Insurers are responsible to verify that their agents have received the training and provide documentation to the Bureau upon request.

Failure to complete the ongoing 4-hour refresher long-term care training course within 24 months of completion of the last training course (8-hour initial course or 4-hour refresher course) will waive the initial 8-hour course completion and will require the producer to retake the initial 8-hour training course.

This state has issued a notice reminding licensees who sell flood insurance of their requirement to comply with the minimum 3 hours of training requirements established by FEMA and the National Flood Insurance Program.

Resident Requirements

Licensees must complete at least 16 hours of CE specific to the license held if only one license is held, and 24 hours with at least 8 hours in each license type if two or more licenses are held.
 

Effective January 1, 2013, three (3) hours must consist of insurance ethics material, which may include material on insurance law and regulations.
 

No more than 75% of required credits may come from agency-sponsored or company-sponsored courses. Please visit www.virginiainsurancece.com for more information. Kaplan Financial Education&squo;s online courses are categorized as non-company/non-agency sponsored.
 

Virginia has issued a notice reminding licensees who sell flood insurance of their requirement to comply with the minimum training requirements established by FEMA and the National Flood Insurance Program.

Non Resident Requirements

Non-resident producers are eligible for compliance based on reciprocity between the laws of Virginia and all other states. Non-residents must submit CE filing fee to the CE administrator by November 30th. Non-resident agents selling partnership LTC must comply with the Virginia training requirement.

Course Repetition

Course repetition is not permitted within the compliance/renewal period. Please note that agents cannot receive CE credit for a course taught in alternative formats (a classroom course, online course, etc.) if the course material is the same.

Exam Rules

Online certification exams are closed book. Course materials are not available while the exam is in progress. The final exam must be passed with a score of 70% or higher to receive CE credit. If the exam is not passed on the first attempt, students have an unlimited number of retakes.

Proctor/Monitor Requirements

Effective June 7, 2016, Virgina removed their proctor requirement for Insurance Continuing Education.  

Period Requirements

For newly licensed producers, if a license was issued in the odd-numbered year (i.e., 2015, 2017) of the biennium the licensee must complete CE for that license type. If a license was issued in the even numbered year of the biennium (i.e., 2016, 2018) the licensee is exempt from CE for the current biennium only. However, if the licensee takes any CE courses in the current biennium, they must pay the nonrefundable $20 Continuance fee by the end of the biennium (November 30th) to have carry forward credits applied to the next biennium.

Effective January 1, 2013, this deadline changes to November 30th of even-numbered years, and any agent who fails to meet this deadline is given a final opportunity to complete the requirements and submit proof of completion by December 31st.

Carryover Requirements

Carryover credits may be carried over to the next reporting period, but must be reported in the biennium period in which the course was taken.

Reporting Requirements

A copy of the Student Certification Form must be received within 7 days of passing your course exam in order to ensure reporting to the State of Virginia. It is strongly recommended that the Student Certification Form be faxed or emailed immediately upon completion of the course. Faxed copies may be sent to Kaplan at (608) 779-0442. Emailed copies may be sent to Kaplan at cs_gradingqa@kaplan.com.

Report within 20 days of completion. Need agent’s VA license number or NPN to report.

Instructor Credit

Individuals acting as instructors for continuing education courses receive the same amount of CE credit as his or her students receive for taking the class. This credit may only be claimed once per biennium.

Exemptions

Individuals who are at least 65 years old and who have held a Virginia license for 20 consecutive years are exempt from CE requirements. Individuals who are at least 65 years old and continuously licensed for the preceding 4 years and hold a license authority in VA for at least 20 of the preceding 30 years may also be exempt from CE requirements.

Acceptable Training Methods

  • Online (Internet Delivery)
  • Correspondence (Print)
  • Company Seminars
  • Classroom
  • CBT/CD-ROM (Computer-Based Training)

Notice

This information is based on state laws and regulations and is subject to change. Kaplan Financial Education makes every effort to make sure this information is current and accurate, however, Kaplan Financial Education is not engaged in rendering legal or professional advice and shall not be held responsible for inaccuracies contained herein.