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SB 378

Insurance: producers; continuing education credit carryover system for insurance producers who belong to a professional insurance association; provide for. Amends sec. 1204c of 1956 PA 218 (MCL 500.1204c).

2023-2024 Regular Session Introduced by Sam Singh

Michigan allows insurance producers in professional associations to carry over unused continuing education credits between licensing renewal periods, reducing compliance burden for active learners.

placed on second reading
#insurance:producers #occupations:insurance
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Bill Summary · SB 378

Legislative bill overview

SB 378 amends Michigan's insurance producer licensing law to allow insurance producers who belong to professional insurance associations to carry over unused continuing education (CE) credits to subsequent licensing periods. This modifies the existing system under MCL 500.1204c, which currently governs CE requirements for maintaining insurance licenses.

Why is this important

Insurance producers must complete continuing education to maintain their licenses and stay current with industry changes. This bill reduces administrative burden and provides flexibility for professionals who complete education beyond minimum requirements, potentially encouraging higher participation in professional development. However, it could also affect how states track compliance with baseline competency standards.

Potential points of contention

  • Compliance tracking concerns: Allowing credit carryover may complicate state oversight of whether producers meet minimum competency standards in each renewal period, potentially masking knowledge gaps in rapidly changing insurance areas.
  • Association membership advantage: Limiting carryover to association members creates a two-tier system that could disadvantage independent producers or those without association affiliation.
  • Regulatory consistency: Other states may not recognize carryover credits, creating portability issues for producers working across multiple states or transferring licenses.

Compiled from official sources — confirm details with the bill’s official record.

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