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Committee advances change to two‑year insurance producer licenses; bill sent to rules

Committee on Budget, Appropriations and Finance, Legislature of the U.S. Virgin Islands · February 4, 2026
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Summary

The committee approved Bill No. 36‑0219 to change insurance producer licensing from annual to a two‑year cycle, adjust renewal timing to birth month/October, and double certain fees for two‑year licenses; the measure will be sent to the Rules and Judiciary Committee.

The Senate Committee on Budget, Appropriations and Finance gave a favorable committee vote to Bill No. 36‑0219, which modifies producer and adjuster licensing by moving to a two‑year licensure cycle and aligning continuing education periods. The committee recorded a favorable vote and will forward the bill to the Rules and Judiciary Committee for further consideration.

Glendina Matthew, director of the Division of Banking, Insurance and Financial…

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