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

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 Regulation, told the committee that 45 states already use a two‑year requirement for producer licensing and that the proposed change improves reciprocity and eases administrative burdens. "With us going to birth month, it allows the insurance licensing examiners to be able to review this application throughout the year," Matthew said, noting the current annual renewal spike on December 31 strains administrative resources.

The bill adjusts fees to reflect the two‑year cycle: in testimony the director said a resident new license currently set at $400 would be $800 for a two‑year license; a nonresident new license currently $700 would be $1,400 for two years. Committee members asked about administrative benefits and reciprocity with other jurisdictions; Matthew said the alignment will help with reciprocity and reduce end‑of‑year processing bottlenecks.

On a roll‑call vote, the committee recorded a favorable recommendation to send Bill No. 36‑0219 to the Rules and Judiciary Committee (recorded in the hearing as 5 yes, 1 absent, 1 not voting). The committee made a technical amendment changing an effective/renewal date in section 2 from January to October and otherwise adopted the measure as amended.

Next steps: Bill No. 36‑0219 will proceed to the Rules and Judiciary Committee for further vetting and possible scheduling for floor consideration.