How to Renew Your Resident Producer License
Important Information for renewal
COMPLETE YOUR CE EARLY, THERE IS NO EXTENTION TO COMPLETE YOUR CE AND IF YOU ARE LATE A PENALTY FEE OF DOUBLE THE UPAID LICENSE FEE WILL BE ASSESSED.
- You must be CE compliant at least ten (10) business days prior to your renewal date.
- CE compliant means:
- Complete 24 hours of course study of which 3 of those hours must consist of in the classroom ethics.
- The CE hours must be on SBS at least 10 business days from the date the CE provider banked them to your record.
- Please Note – your education provider has 10 days from the Saturday after you take the exam to send your results to the Department. Il. Admin. Rules Title 50 3119.45 (b) (1) States
“…The producer should complete the course no later than 1 month prior to the license extension date to allow time for the provider to submit proof of completion to the Director…”
CE provider look-up
An insurance producer who places insurance either directly or indirectly with an insurer with which the insurance producer does not have an agent contract must maintain in force while licensed a bond in favor of the people of the State of Illinois executed by an authorized surety company and payable to any party injured under the terms of the bond. The bond shall be continuous in form and in the amount of $2500 or 5% of the premiums brokered in the previous calendar year whichever is greater, but not to exceed $50,000 total aggregate liability. Such bond should remain at the place of business however the producer must provide the information within 3 working days after receiving a request, should the information be requested