Section 26.04. Prelicensing requirement.

 

(1)  Each applicant for a property, personal lines, casualty, life, or accident and health insurance license shall complete, not more than one year earlier than the date tested, at least 20 hours of a preliminary educational program approved by the commissioner in accordance with this chapter.

(2)  Minimum prelicensing educational requirements shall not apply to the following:

(a) Any applicant applying for a limited line insurance license for credit insurance, legal expense insurance, miscellaneous limited line, title insurance, crop, surety, or travel insurance.

(b) Any nonresident applying for a nonresident license in the state of Wisconsin.

(c) Any applicant who has completed a 2-year Wisconsin vocational school degree in insurance who submits evidence of attendance with the application.

(d) Any applicant who has completed a 4-year college degree in business with an insurance emphasis who submits evidence of attendance with their application.

(e) An applicant for a reinsurance intermediary-broker, reinsurance intermediary-manager or managing general agent limited-line license.

(f) An applicant applying for an original resident license who held a license within the previous 12 months as a resident insurance agent in another state for each of the lines applied for in Wisconsin is exempt from prelicensing education and examination requirements. The applicant must submit an original resident license application on form OCI 11-041R (rev), the appropriate fee and any documentation required in answer to the questions on the application.

(g) An applicant applying for an original resident license for the Life line of authority who provides satisfactory evidence of currently holding any of the following professional designations or successor designations: Certified Employee Benefit Specialist (CEBS), Chartered Financial Consultant (ChFC), Certified Insurance Counselor (CIC), Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), Fellow of the Life Management Institute (FLMI), or Life Underwriter Training Council Fellow (LUTCF).

(h) An applicant applying for an original resident license for the Accident & Health line of authority who provides satisfactory evidence of currently holding any of the following professional designations or successor designations: Registered Health Underwriter (RHU), Certified Employee Benefit Specialist (CEBS), Registered Employee Benefits Counselor (REBC), or Health Insurance Associate (HIA).

(i) An applicant applying for an original resident license for the Property, Casualty, or Personal Lines P&C lines of authority who provides satisfactory evidence of currently holding any of the following professional designations or successor designations: Accredited Advisor in Insurance (AAI), Associate in Risk Management (ARM), Certified Insurance Counselor (CIC), or Chartered Property and Casualty Underwriter (CPCU).

(3)  If an applicant is exempt under sub. (2) , the applicant shall submit an exemption form with all supporting documentation on form OCI 11-026 (rev).

Cr. Register, June, 1992, No. 438 , eff. 7-1-92; emerg. cr. (2) (e), eff. 3-12-93; cr. (2) (e), Register, July, 1993, No. 451 , eff. 8-1-93; am. (1), cr. (2) (f), Register, January, 1999, No. 517 , eff. 2-1-99; emerg. am. (1), (2) (a) and (f) and (3), eff. 11-9-01; CR 01-074 : am. (1), (2) (a) and (f); Register January 2002 No. 553 , eff. 2-1-02; CR 05-111 : am. (2) (f) and (3), cr. (2) (g) to (i) 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 : am. (2) (a) and (f) Register August 2009 No. 644 , eff. 9-1-09 .