SB0131 Summary

• Increases pre-licensing course requirements for insurance producer licenses from 15.0 hours to 20 hours for most insurance classes (Life, Accident and Health, Fire, Casualty, Personal Lines-Property Casualty) and from 7.5 hours to 12.5 hours for Motor Vehicle.

• Requires 7.5 hours of each pre-licensing course to be completed in classroom setting, except Motor Vehicle which requires 5 classroom hours, with all pre-licensing study to be completed before the insurance exam.

• Reduces continuing education requirement for license renewal from 30 hours to 24 hours, with at least 3 of those 24 hours consisting of classroom ethics instruction.

• Conditions rulemaking authority on compliance with the Illinois Administrative Procedure Act and Joint Committee on Administrative Rules procedures, rendering any non-compliant rules unauthorized.