Oklahoma CSR and Insurance Consultant License Conversion To Take Effect Nov. 1

The Oklahoma Insurance Department issued a special notice to licensed Customer Service Representatives and Insurance Consultants last week regarding the automatic conversion of their licenses as Insurance Producers.

According to the notice, effective Nov. 1, 2022, Oklahoma licensed Customer Service Representatives (CSR) and Insurance Consultants are required to be licensed as Insurance Producers.

SB 1252 (effective Nov. 1, 2022) amends the Oklahoma Producer Licensing Act, 36 O.S. §§ 1435.1, et seq., to remove CSR and Insurance Consultants as individual license types. Instead, individuals operating as CSRs or Insurance Consultants shall do so under an Insurance Producer license and shall be subject to the statutes and rules governing Insurance Producers.

According to the bulletin, National Producer Numbers (NPN) and Oklahoma license numbers will not change.

State Based Systems (SBS) will automatically convert anyone licensed as a CSR or Insurance Consultant to an Insurance Producer on Nov. 1, 2022.

The bulletin notes that CSRs and Insurance Consultants whose licenses expire in September and October will have the ability to renew their license prior to Nov. 1, 2022, under the current continuing education requirements.

For license renewal applications received after Nov. 1, 2022, applicants will be required to complete the Insurance Producer biennial requirement of 24 hours, including three hours of ethics and two hours of legislative update.

The Insurance Producer biennial license fee for any license renewal application received on or after Nov. 1, 2022 is $60.00.

Questions concerning the notice should be directed to Oklahoma Insurance Department’s Licensing Division at 405-521-3916 or by email at licensing@oid.ok.gov.

Topics Oklahoma