New Missouri laws offer agents greater flexibility, opportunities

Several pieces of legislation affecting Missouri insurance producers were recently signed into law by Governor Mike Parson. The new laws revise provisions for producer license renewals and provide continuing education credit opportunities for insurance professionals.

The signed bills include Senate Bill 6, which includes a provision to change producer license renewal timeframes. In the past, Missouri insurance producers have had to renew their license every two years on the anniversary of the date of issuance, and now the expiration becomes the birthdate of the licensee. This change is an NAIC Uniformity Standard and is intended to help insurance producers to remember to renew their licenses and avoid late fees, according to Chlora Lindley-Myers, the director of the Missouri Department of Commerce and Insurance.

Another provision found in Senate Bill 6, House Bill 273 and House Bill 604 concerns continuing education alternatives. Missouri law requires 16 hours of continuing education every two years for insurance producers. A provision of the new law allows an insurance producer’s membership in a local, regional, state, or national insurance association to count for up to four hours of continuing education hours.

“This provision is yet another way we can assist producers in meeting their continuing education requirements and also encourage them to be active in insurance associations which will help sharpen their skills,” said Lindley-Myers in a statement.

Related: 

• Regulations for public adjusters updated in Florida
• NAIC-inspired cybersecurity model law adopted in Maine
• New Missouri law safeguards insurers from excessive arbitration awards & findings