HB113 Summary

• Eliminates automobile and industrial fire insurance producer lines of authority; existing licenses transition to personal lines and property lines respectively upon renewal.

• Adds travel and crop insurance as limited lines insurance; creates new portable electronics insurance regulatory framework requiring vendors to obtain limited lines licenses.

• Requires insurance producer applicants to submit fingerprints for criminal history background checks; exempts applicants with college insurance degrees and those for variable life/annuity products from prelicensing course requirements.

• Mandates insurance licensees notify the Commissioner of address or email changes within 30 days with a $50 penalty for non-compliance; eliminates requirement that producers certify continuing education compliance on renewal forms.

• Authorizes Commissioner to prescribe alternative methods for serving administrative complaints and to participate in centralized producer license registry with NAIC.