Insurer required training for insurance producers that sell annuity products.

Regulation 187 requires insurers to set forth standards and procedures for recommendations to consumers with respect to both life insurance and annuity contracts. Insurance companies are responsible for ensuring that every producer recommending its life and annuity products is adequately trained to make the recommendation, however, Regulation 187 does not require the completion of specific training classes. WebCE is an Approved Provider Organization and, for annuity training, has a course based on the education standards recommended by the NAIC Suitability in Annuity Transactions and has received DFS approval for continuing education credit. A producer completing this course will earn continuing education credit toward the renewal of their insurance license and may satisfy the annuity training requirements of the insurance companies and therefore NY Regulation 187. It is the responsibility of the producer to know the annuity training requirements of the insurance company with whom he or she works.

Additional Information

State required training for insurance producers, adjusters, and personal lines producers that sell flood insurance products.

One-Time Training
Hours: 3
Frequency: One-time training must be complete prior to selling flood insurance products.

Additional Information

As clarified by FinCEN’s final rulings, the USA PATRIOT Act stipulates that financial services companies involved in the sale of covered products maintain an ongoing training program for all associates who are involved in any sale and administration of covered products. Please consult your firm on how to report WebCE courses for this training.

Additional Information

The NYCRR 500 states, companies are required to provide personnel with cybersecurity awareness training. Please consult your firm on how to report WebCE courses for this training.

Additional Information

Section 409 of the New York Insurance Law and Regulation 95 states, companies are required to provide personnel with fraud training. Please consult your firm on how to report WebCE courses for this training.

Additional Information

New York Local Law 96 states, employers with 15 or more employees shall annually conduct an anti-sexual harassment interactive training for all employees, including supervisory and managerial employees, of such employer employed within the city of New York. Please contact WebCE for course options and consult with your firm on how to report WebCE courses for this training.

Additional Information

• Producers: Every 2 years, based on the licensee’s date of birth in odd- or even-numbered years. Licensees born in an even-numbered year are required to complete their CE in even-numbered years. Licensees born in an odd-numbered year are required to complete their CE in odd-numbered years.
• Public Adjusters: The license term ends on 12/31 of even-numbered years.

Excess CE hours may not be carried over to the next 2-year license term.

A licensee cannot ever repeat a course for credit.

Self-study online or paper-book.

Self-Study Requirements: Students should read the course material prior to taking the final exam.

The final exam is closed book, and no outside information may be used to complete the exam. If the final exam is not passed on the first attempt, students have an unlimited number of retakes.

Exam Requirements: Self-Study exams are closed-book and do not require a monitor.

Effective immediately, the New York State Department of Financial Services has eliminated the requirement to have an approved monitor present when taking an insurance CE course final exam. Please see Supplement No. 4 to Insurance Circular Letter No. 9 for more information.

Self-Study Final Exam: 70%

WebCE provides online, printable certificates of completion. Certificates of completion are available to print online immediately after the final exam is passed. Producers are required to maintain the original certificate of completion in his or her files.

Twice-a-Day Reporting: WebCE reports course completions to the New York DOFS twice every business day.

Non-residents who want to sell annuity products in NY must complete the NY 4-hour annuity course.

Non-resident Public Adjusters that do not have a continuing education requirement in their home state must complete the New York Public Adjuster CE requirements.

• Non-resident producers in good standing with their home state.
• Licensees called to active military duty during the term of their license.
• There is no CE requirement for the renewal of Independent Adjuster, Bail Bond, Mortgage Guarantee, or Re-insurance Intermediary licenses.