Key Takeaways
- New Jersey insurance licenses are valid for 2 years and must be renewed before expiration
- Renewal requires 24 hours of continuing education, including 3 hours of ethics
- Licenses not renewed within 1 year of expiration require retaking the state exam
- Address changes must be reported to DOBI within 30 days
- DOBI can discipline licensees for violations including suspension, revocation, or fines up to $10,000
License Maintenance and Continuing Education
New Jersey insurance licenses require ongoing maintenance through continuing education and timely renewal.
License Terms and Renewal
| Item | Requirement |
|---|---|
| License Term | 2 years |
| Renewal Fee | $60 |
| Late Renewal (within 1 year) | Additional fees apply |
| Expired Over 1 Year | Must retake exam |
Continuing Education Requirements
New Jersey requires 24 hours of continuing education (CE) every 2 years:
CE Requirements
| Requirement | Hours |
|---|---|
| Total CE Hours | 24 |
| Ethics (required) | 3 |
| Electives | 21 |
| CE Period | 2 years (matches license term) |
CE Course Requirements
- Must be completed at DOBI-approved providers
- Online and classroom options available
- Ethics course must cover New Jersey law and regulations
- Cannot repeat same course in same renewal period
- CE must be completed BEFORE license expiration
Exam Tip: New Jersey requires 24 hours of CE with 3 hours of ethics. Make sure to complete CE before your license expires.
Renewal Process
- Complete CE before expiration date
- Submit renewal through NIPR online system
- Pay renewal fee ($60)
- Receive renewed license
Late Renewal Consequences
| Timing | Consequence |
|---|---|
| Before expiration | Normal renewal |
| Up to 1 year late | Penalty fees, cannot transact insurance |
| Over 1 year late | Must retake licensing exam |
Reporting Requirements
New Jersey producers must notify DOBI of changes within 30 days:
- Change of business address
- Change of residence address
- Change of name
- Administrative actions by other states
- Criminal charges or convictions
- Changes in business entity information
Failure to Report
Failure to report changes within 30 days is a violation that may result in disciplinary action.
Disciplinary Actions
DOBI can take disciplinary action against licensees for violations:
Types of Discipline
| Action | Description |
|---|---|
| Warning Letter | Minor first offense |
| Probation | License continues with conditions |
| Suspension | Temporary loss of license |
| Revocation | Permanent loss of license |
| Fine | Monetary penalty (up to $10,000 per violation) |
| Restitution | Payment to harmed parties |
Common Violations
- Misrepresentation to clients
- Failure to disclose material information
- Commingling of funds
- Unauthorized transactions
- Failure to maintain CE requirements
- Felony conviction
- Fraud or dishonesty
License Status
| Status | Meaning |
|---|---|
| Active | License current and in good standing |
| Inactive | Not actively practicing |
| Expired | License term ended, not renewed |
| Suspended | Temporary disciplinary action |
| Revoked | License permanently cancelled |
| Surrendered | Voluntarily gave up license |
Reinstating a License
To reinstate an expired or inactive license:
- Complete any outstanding CE
- Pay required fees
- Submit reinstatement application
- Pass background check if required
- If over 1 year expired, must retake exam
How many hours of continuing education does New Jersey require for license renewal?
Within how many days must a New Jersey insurance producer report an address change to DOBI?
What happens if a New Jersey insurance license expires and is not renewed for more than 1 year?