Changes for the Biennium. Effective January 1, 2015

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2 Changes for the Biennium Effective January 1, 2015

3 Updated Fee Schedule Filing Type Previous Fee Current Fee Continuance Fee $15 $20 Course Renewal $35 $35 Course Approval $60 $65 Instructor Approval $25 $30 Instructor Renewal $10 $15 Single Session $35 $35 Expedited Reviews $50 $50

4 Biennium: Key Information Effective January 1, 2015

5 Biennium The current ( ) biennium will end on December 31, Virginia Resident Agents should have completed all course work and paid their nonrefundable continuance fee by November 30, Non-Resident Agents should have paid their nonrefundable continuance fee by November 30, All agents that fail to complete course work or pay their continuance fee by December 31, 2016, will have their licenses terminated effective January 1, 2017.

6 Biennium On or about June 1, 2016, the Virginia Insurance Continuing Education Board will send notices to all agents not yet in compliance. On or about December 1, 2016, the Virginia Bureau of Insurance will mail a notice of Pending License Termination to all agents who are not yet compliant for the current biennium. This notice will provide agents with a final opportunity, until December 31, 2016, to complete any course work and pay their continuance fee.

7 Important Reminders Course Introduction Statement MUST be disseminated (verbally or in writing) to all students at the beginning of all courses regardless of format. Providers are responsible for ensuring that their students return their student and proctor certification forms in a timely manner. Providers are required to submit all transactions electronically. Fillable electronic forms can be found here: Providers may include multiple course completions on a single course completion certificate. Instructors must be approved to teach Ethics. If an instructor is not currently approved to teach Ethics, instructors will be required to submit a new application. Instructors previously approved to teach Insurance Law and Regulations have had Ethics added to their authority.

8 Resident Compliance Schedule Biennium 11/30/16 12/1/16 12/31/16 1/1/17* 1/1/17 1/31/17 1/3/17 Last day to complete courses/pay nonrefundable continuance fee. Time period to correct any CE deficiencies by completing courses/paying nonrefundable continuance fee. Terminate license. Three-tiered appeal process period. Begin applying online for new licenses. Must pass exam, submit current criminal history report and pay nonrefundable licensing fee * Date is approximate

9 Nonresident Compliance Schedule Biennium 2/13/15 12/31/16 1/1/17* 1/1/17 1/31/17 1/3/17 Begin paying nonrefundable continuance fee online. Deadline for paying nonrefundable continuance fee. Terminate license. Three-tiered appeal process period. Begin applying online for new licenses. * Date is approximate

10 Course Offerings Approved providers will no longer maintain their status in perpetuity. Providers MUST maintain at least one approved course in order to maintain their authority into the next biennium. Providers who do not maintain an approved course will have their authority revoked. Providers who have had their authority revoked can reapply for authority when they submit a course for approval.

11 Biennium in Review January 1, 2013 December 31, 2014

12 Biennium Statistics Program activity during the last biennium was: 4,181 courses reviewed 4,112 approved and 69 denied 1,319 instructors applications reviewed: 1,286 approved and 33 denied 93 providers applications reviewed (all approved) 255 audits conducted: 117 desk; 70 classroom; 68 self study 160 courses were compliant and 65 courses were non-compliant

13 5 Most Common Audit Violations The Course Introduction Statement is not being disseminated (orally or in writing) to all students at the beginning of the course. Instructor is not approved or the instructor not approved for the specific subject area of the course. Course rosters not being reported within 20 days. Course Offerings not being entered and/or cancelled in Compliance Express. Proctor and Student Certification forms not being returned to the Provider within 7 days. Provider needs to follow-up with the student to receive the required paperwork before the 20 day deadline.

14 Important Contact Information Virginia Insurance Continuing Education Website Pearson VUE Support for Providers Vertafore Technical Support

15 Online Electronic Services Demonstration

16 Questions?