Chapter Ins 28

Ins 28.04(1)(a) (a) Each intermediary licensed in any of the major lines listed in s. Ins 6.50 (2) (a) and the grandfathered limited line of automobile shall biennially complete 24 credit hours of continuing education approved by the commissioner in accordance with this chapter and with at least 3 of the 24 credit hours covering ethics in insurance.

Ins 28.04(1)(b) (b) On or before the last day of the agent’s license expiration date every resident-intermediary agent shall furnish evidence to the commissioner in a manner prescribed by the commissioner that 24 credit hours of continuing education, of which at least 3 credit hours must be in the ethics of insurance, have been completed.

Ins 28.04(1)(c) (c) Intermediaries may fulfill the continuing education requirements by earning the required credit hours from courses taught in any or all of the major lines and the limited line of automobile.

Ins 28.04(1)(d) (d) Excess credit hours accumulated during any reporting period may not be carried forward to the next reporting period. Courses are counted and banked in the order they are completed.

Ins 28.04(1)(e) (e) An instructor of an approved continuing education course may receive the same number of credit hours as a person enrolled in the course for the purpose of meeting the requirements of this section. Intermediaries and instructors may receive credit hours for attending or teaching the same course only once during any biennium.

Ins 28.04(1)(f) (f) Not less than 60 days prior to the reporting date set forth in par. (b) of each reporting period, the commissioner shall provide each intermediary with a renewal notice containing instructions for the intermediary to review his or her education transcript for compliance.

Ins 28.04(1)(g) (g) If the required credit hours are not banked by the license expiration date set forth in par. (b), the license of the intermediary shall terminate on the license expiration date.

Ins 28.04(1)(h) (h) Any individual intermediary whose license has terminated for failure to fulfill the continuing education requirement, shall, in order to be relicensed, satisfy the licensing requirements established by ss. Ins 6.59 and 6.63.

Ins 28.04(1m) (1m) Definitions.

Ins 28.04(1m)(a) (a) NAIC means National Association of Insurance Commissioners.

Ins 28.04(1m)(b) (b) A declaration of uniform treatment means an agreement with another state that both states will deal with certain entities in the same manner.

Ins 28.04(2) (2) Continuing education requirements shall not apply to the following:

Ins 28.04(2)(a) (a) Any intermediary exclusively holding a limited line insurance license in the following lines: credit insurance, crop insurance, legal expense insurance, miscellaneous limited line, managing general agent, surety insurance, title insurance, or travel insurance.

Ins 28.04(2)(b) (b) A nonresident intermediary whose home state grants similar exemptions to Wisconsin residents.

Ins 28.04 History History: Cr. Register, November, 1995, No. 479, eff. 12-1-95; am. (1) (a), (b), (d) and (2) (c), cr. (1m), Register, January, 1999, No. 517, eff. 2-1-99; emerg. am. (1) (a), (2) (a), eff. 11-9-01; CR 01-074: am. (1) (a) and (2) (a), Register January 2002 No. 553, eff. 2-1-02; CR 05-111: am. (1) (a), (d), (f), (g) and (i), r. and recr. (1) (b) Register October 2006 No. 610, eff. 11-1-06; CR 07-096: am. (2) (a) Register March 2008 No. 627, eff. 4-1-08; CR 09-022: renum. (1) (b) 1., (i) and (2) (c) to be (1) (b), (h) and (2) (b) and am. (1) (b) and (2) (b), r. (1) (b) 2., 3., (h) and (2) (b), am. (1) (g) and (2) (a) Register August 2009 No. 644, eff. 9-1-09; correction to renumbering of (1) (h) made under s. 13.92 (4) (b) 1., Stats., Register August 2009 No. 644; CR 19-025: am. (1) (f) to (h), (2) (b) Register August 2020 No. 776, eff. 9-1-20.

Ins 28.05 Ins 28.05 Waiver of continuing education requirements. The requirements of this section may be waived in writing by the commissioner for good cause shown. ”Good cause” includes long-term illness or incapacity, serving full-time in the armed forces of the United States of America on active duty outside of the state of Wisconsin during a substantial part of the biennium, and other emergency situations deemed appropriate by the commissioner. Requests for waivers of continuing education requirements shall be made in a manner prescribed by the commissioner, and shall be submitted to the commissioner no later than 90 days prior to the end of the biennium for which such waiver is requested. Within 30 days of receipt, the commissioner shall act upon the waiver request and provide written notice of the decision to the applicant. Any waiver granted pursuant to this section shall be valid only for the biennium for which waiver application was made.

Ins 28.05 History History: Cr. Register, November, 1995, No. 479, eff. 12-1-95; CR 19-025: am. Register August 2020 No. 776, eff. 9-1-20 .

Ins 28.06 Ins 28.06 Requirements for approval of continuing education providers and courses.

Ins 28.06(1) (1) Licensing of continuing education providers. An entity or individual seeking initial approval or reapproval from the commissioner as a continuing education provider shall submit an application in a manner prescribed by the commissioner. The commissioner may require the following information and materials:

Ins 28.06(1)(b) (b) A description of the experience and education that the applicant believes qualifies the applicant to be a provider;

Ins 28.06(1)(c) (c) A description of the provider’s organizational structure, registration policies, fee schedules, and promotional materials;

Ins 28.06(1)(d) (d) A description of the provider’s student record systems including a description of the methods for documenting attendance;

Ins 28.06(1)(e) (e) The method used by the provider for evaluating instructors;

Ins 28.06(1)(f) (f) An original signature of the person or persons authorized to sign certifications;

Ins 28.06(1)(g) (g) A certificate format that the applicant proposes to use to comply with Appendix 1; and

Ins 28.06(1)(h) (h) Other information as specified by the commissioner.

Ins 28.06(2) (2) Criteria for approval. In order to be approved, continuing education providers shall:

Ins 28.06(2)(a) (a) Comply with state or federal laws, including but not limited to laws regarding discrimination on the basis of sex, race, religion, age, physical disability, sexual orientation, or national origin in their educational programs;

Ins 28.06(2)(b) (b) Certify that instructors will be experienced and qualified in insurance and satisfy at least one of the following criteria:

Ins 28.06(2)(b)1. 1. Is or has been engaged in the insurance industry or the practice of teaching insurance courses for the last three years;

Ins 28.06(2)(b)2. 2. Is a properly licensed insurance intermediary for the past 5 years and demonstrates to the commissioner that he or she is of good character and has the knowledge and breadth of experience in the subject area for which he or she will be providing instruction;

Ins 28.06(2)(b)3. 3. Holders of any of the designations identified in s. Ins 26.06 (2) (b) 4., 5. and 6.;

Ins 28.06(2)(b)4. 4. Is a member of the state bar in a state or the District of Columbia and is engaged in the field of insurance-related law; or

Ins 28.06(2)(b)5. 5. Is a certified public accountant licensed in a state or the District of Columbia and engaged in insurance-related practice.

Ins 28.06(2)(c) (c) Show that information provided to comply with sub. (1) is likely to support a comprehensive and accurate treatment of the subjects required in each section.

Ins 28.06(3) (3) Provider approval fees.

Ins 28.06(3)(a) (a) The initial application fee to be paid by each licensed provider will be set through a competitive bid process not to exceed limits identified in s. 601.31 (1) (x) 1., Stats. The biennial regulation fee paid by each licensed provider will be set through a competitive bid process not to exceed limits identified in s. 601.31 (1) (x) 2., Stats. Wisconsin governmental bodies, such as universities and technical colleges, shall be exempt from these fees.

Ins 28.06(4) (4) Application approval and expiration of approval. Upon receipt of an application for approval of a provider and the appropriate fee, the commissioner shall determine if the application meets the requirements and if the program provides for instruction of courses in a manner required by this chapter. The commissioner shall issue a decision on approval of an application no later than 60 days following the receipt of the completed application and all required information. Provider approval shall expire on July 31, every 2 years starting on the July 31 after approval.

Ins 28.06(5) (5) Course approval.

Ins 28.06(5)(a) (a) Upon receipt of an application for approval of a course from an approved continuing education provider and the appropriate fee, the commissioner shall determine if the course meets the requirements set forth in sub. (6). The commissioner shall issue a decision approving or denying approval of a course no later than 30 days following the receipt of the completed application. Advertisement by the provider prior to approval must include language that the course as presented is pending approval by the state. Course approval shall expire 2 years from the date the course was approved by the commissioner.

Ins 28.06(5)(b) (b) Credit will not be awarded to intermediaries for courses completed prior to the date approved by the commissioner.

Ins 28.06(5)(c) (c) The following information shall be furnished with the request for approval of a continuing education course:

Ins 28.06(5)(c)1. 1. Name, license number, and address of provider;

Ins 28.06(5)(c)2. 2. Name of the instructor;

Ins 28.06(5)(c)3. 3. Name, telephone number, e-mail address, and signature of the contact person for the provider;

Ins 28.06(5)(c)4. 4. Course title;

Ins 28.06(5)(c)5. 5. The date the course will initially be offered;

Ins 28.06(5)(c)6. 6. The location where course will initially be offered;

Ins 28.06(5)(c)7. 7. Whether the course is new, repeat, revised, or offered live or by interactive video teleconference;

Ins 28.06(5)(c)8. 8. If it is a repeat course or a revised course, the course number;

Ins 28.06(5)(c)9. 9. An outline including a schedule of times when topics will be presented; the topics covered in the course, listed individually; and a summary of the instruction given and the material covered for each topic;

Ins 28.06(5)(c)10. 10. Number of credit hours requested; and

Ins 28.06(5)(c)11. 11. A description of the qualifications of each instructor and the subject matter the instructor will be teaching.

Ins 28.06(5)(d) (d) Instructors of continuing education programs shall be approved by the commissioner. Instructors shall meet the criteria set forth in sub. (2) (b). Submitted instructors may be replaced by other approved instructors with equal qualifications on an emergency basis.

Ins 28.06(5)(e) (e) The course shall be conducted in accordance with the course outline and summary materials approved by the commissioner. After the provider has been notified of any deficiency, failure to correct the deficiency shall automatically void the course approval for any course held after notice.

Ins 28.06(5)(f) (f) A provider shall give the commissioner electronic notice in a format specified by the commissioner at least 10 days in advance of offering an approved course on a date or at a place other than, or in addition to, the date and location provided in the initial request for approval.

Ins 28.06(6) (6) Course content guidelines.

Ins 28.06(6)(a) (a) The following course topics are examples of subjects that qualify for approval under sub. (5):

Ins 28.06(6)(a)1. 1. Principles of property insurance

Ins 28.06(6)(a)2. 2. Principles of casualty insurance

Ins 28.06(6)(a)3. 3. Principles of life insurance

Ins 28.06(6)(a)4. 4. Principles of accident and health insurance

Ins 28.06(6)(a)5. 5. Estate planning/taxation

Ins 28.06(6)(a)6. 6. Ethics in insurance

Ins 28.06(6)(a)7. 7. Legal, legislative, regulatory matters in insurance

Ins 28.06(6)(a)8. 8. Wisconsin insurance code and administrative rules

Ins 28.06(6)(a)9. 9. Insurance policy contents

Ins 28.06(6)(a)10. 10. Proper use of insurance products

Ins 28.06(6)(a)11. 11. Accounting/actuarial considerations in insurance

Ins 28.06(6)(a)12. 12. Principles of risk management

Ins 28.06(6)(a)13. 13. Provisions/differences in insurance policy contracts

Ins 28.06(6)(a)14. 14. Tax laws (specifically related to insurance)

Ins 28.06(6)(a)15. 15. Wills and trusts

Ins 28.06(6)(a)16. 16. Multiple Employer Welfare Arrangements/Unauthorized Insurers

Ins 28.06(6)(a)17. 17. Legal structuring of life settlements

Ins 28.06(6)(a)18. 18. Legal relationships among the parties to a life settlement

Ins 28.06(6)(a)19. 19. Required disclosures and privacy requirements in life settlements

Ins 28.06(6)(a)20. 20. Ethical considerations in selling, soliciting, and negotiating life settlements

Ins 28.06(6)(a)21. 21. Life settlement contract requirements

Ins 28.06(6)(a)22. 22. Advertisements of life settlements

Ins 28.06(6)(a)23. 23. Life settlement remedies

Ins 28.06(6)(a)24. 24. Life settlement licensing requirements

Ins 28.06(6)(a)25. 25. Communication skills relating to the business of insurance

Ins 28.06(6)(a)26. 26. Personnel Management relating to the business of insurance

Ins 28.06(6)(a)27. 27. Insurance agency management

Ins 28.06(6)(b) (b) The following course topics are examples of subjects that do not qualify for approval:

Ins 28.06(6)(b)1. 1. Sales

Ins 28.06(6)(b)2. 2. Motivation

Ins 28.06(6)(b)3. 3. Prospecting