The Ohio House has approved legislation that would amend Ohio’s Insurance Producer Licensing Act. House Bill 300 (H.B. 300), which is sponsored by Representatives Dyer (D-Akron) and Hottinger (R-Newark), is intended to bring uniformity to Ohio’s insurance licensing laws and licensing standards.
Key features of the bill include:
- Mandatory federal background checks for licensure.
- Licensure renewal on a biennial basis. (Under current Ohio law, an agent’s license is perpetual.)
- Completion of 24 hours of continuing education, including three hours of ethics education, for all major lines of authority. (Agents, under current Ohio law, are required to complete 20 hours of continuing education with no requirement for ethics education.)
- Biennial license renewal fees of $25 for all agents except individual resident agents who have met their continuing education requirements, surety bail bond agents and surplus line brokers.
The Ohio Department of Insurance is actively advocating H.B. 300. The industry has been supportive of the Department’s effort to bring uniformity to state’s producer licensing laws.
In December, the bill was referred to the Ohio Senate Insurance, Commerce and Labor Committee. Senate action is expected early this year.
H.B. 300 is available at: