In the aftermath of Hurricane Isabel, the Maryland legislature focused its attention to flood insurance and passed SB 584, effective Oct. 1, 2004, followed by HB160, effective Oct. 1, 2005. Producers who sell flood insurance
SB 584 placed specific flood Continuing Education (CE) requirements onto insurance producers who sell flood insurance. Therefore, if you sell Flood or Homeowners' insurance, part of your CE requirements must be dedicated to flood coverage. - The Maryland Insurance Administration (MIA) requires two hours to be dedicated to flood;
- This is an ongoing requirement (for each renewal period);
- Regardless of when your license renews, two hours must have been dedicated to flood in your renewal cycle before September 30, 2006.
Producers who sell Homeowners' policies but do not sell flood insurance
HB160 amends the statute to apply another flood CE requirement to those insurance producers who sell homeowners' policies. If you sell Homeowners' insurance (but don't sell Flood): - You must take two hours of CE;
- This is a one-time requirement;
- The deadline for compliance was Sept. 30, 2007
If you sell both HO and Flood insurance, you only need to comply with two hours of CE, not four. Your deadline for compliance would be Sept. 30, 2006. These credit hours are not additional: they will count towards your current P&C requirement. Flood-related courses On-demand Flood course by Rita Hollada (fulfills the state Flood CE requirement) |
