SB 407 Summary

• Amends Oklahoma's insurance producer continuing education requirements in 36 O.S. Section 1435.29 to specify approved courses and professional designation programs that satisfy the biennial requirement.

• Allows insurance producers to meet continuing education requirements by completing any part of specific professional programs including Life Underwriter Training Council courses, Chartered Life Underwriter (CLU), Registered Health Underwriter (RHU), Chartered Financial Consultant (ChFC), Accredited Advisor in Insurance (AAI), or Chartered Property and Casualty Underwriter (CPCU) programs with minimum classroom hours ranging from 20 to 50 hours.

• Permits completion of a Certified Insurance Counselor Program totaling 20 classroom hours or any other certification program deemed appropriate by the Insurance Commissioner as equivalent to the continuing education requirement.

• Requires each course in approved professional designation programs to total a minimum of 24 hours and mandates review of approved programs every three years for quality and compliance.

• Becomes effective November 1, 2011.