Key Takeaways
- New Mexico requires 24 hours of continuing education every 2 years
- At least 3 hours must be in ethics courses
- Licenses are renewed biennially through NIPR
- CE credits cannot be carried over to the next renewal period
- Special training required for LTC and annuity products
License Maintenance and Continuing Education
New Mexico insurance licenses require ongoing maintenance through continuing education and timely renewal.
License Terms and Renewal
Biennial Renewal System
| Item | Requirement |
|---|---|
| License Term | 2 years (biennial) |
| Renewal Method | Through NIPR |
| CE Requirement | Complete before renewal |
| Grace Period | Cannot sell during lapse |
Continuing Education Requirements
New Mexico requires 24 hours of continuing education (CE) every 2 years:
CE Breakdown
| Requirement | Hours |
|---|---|
| Total CE Hours | 24 |
| Ethics (required) | 3 minimum |
| General/Electives | 21 |
Important CE Rules
- Complete all CE before license expiration
- Courses must be approved by OSI
- CE credits cannot be carried forward to next period
- Providers report completions electronically
Exam Tip: New Mexico requires 3 hours of ethics CE. Complete your CE well before the renewal deadline to avoid any issues.
Special Training Requirements
Long-Term Care (LTC) Training
| Training Type | Hours | Frequency |
|---|---|---|
| Initial Training | 8 hours | One-time before selling LTC |
| Ongoing Training | 4 hours | Every renewal period |
Annuity Training
| Requirement | Detail |
|---|---|
| Training | Annuity suitability/best interest training |
| Timing | Before selling annuity products |
| Frequency | Verify current requirements with OSI |
Renewal Process
Steps to Renew
- Complete 24 hours CE (including 3 ethics) before deadline
- Verify CE credits are posted to your record
- Submit renewal through NIPR
- Pay renewal fee
CE Reporting
- Approved providers report completions electronically to OSI
- Check your transcript regularly
- Ensure all credits are posted before renewal deadline
- Contact provider if credits are missing
Non-Resident Producer Rules
CE Reciprocity
| Situation | New Mexico Requirement |
|---|---|
| Non-Resident with Home State CE | Generally satisfies NM CE |
| Non-Resident without Reciprocity | Must complete NM CE requirements |
Non-resident producers who maintain their home state license in good standing generally satisfy New Mexico CE requirements.
Disciplinary Actions
The OSI can take disciplinary action for violations:
Grounds for Discipline
- Violating insurance laws or regulations
- Fraudulent or dishonest practices
- Misappropriation of funds
- Misrepresentation to clients
- Failure to complete required CE
- Criminal conviction
- License violations in other states
Types of Discipline
| Action | Description |
|---|---|
| Warning | Minor first offense |
| Fine | Monetary penalty |
| Probation | License continues with conditions |
| Suspension | Temporary loss of license |
| Revocation | Permanent loss of license |
Reporting Requirements
Required Notifications
Producers must notify the OSI of:
- Change of business address
- Change of residence address
- Change of name
- Administrative actions by other states
- Criminal charges or convictions
How to Report Changes
- Update through NIPR
- Or contact OSI directly
- Timely reporting is required
- Failure to report may result in discipline
Contact Information
- Address: P.O. Box 1689, Santa Fe, NM 87504-1689
- Phone: (855) 427-5674
- Website: osi.state.nm.us
How many hours of continuing education does New Mexico require for license renewal?
How many hours of ethics CE are required in New Mexico?
Can unused CE credits be carried over to the next renewal period in New Mexico?
What training is required before selling Long-Term Care insurance in New Mexico?