1.3 License Maintenance and Continuing Education
Key Takeaways
- Colorado insurance licenses are valid for 2 years and must be renewed before expiration
- Renewal requires 24 hours of continuing education per renewal period
- CE must include 3 hours of ethics training
- Licenses not renewed within 90 days of expiration require re-examination
- Address changes must be reported to the DOI within 30 days
Colorado insurance licenses require ongoing maintenance through continuing education and timely renewal.
License Terms and Renewal
| Item | Requirement |
|---|---|
| License Term | 2 years |
| Renewal Fee | Approximately $55 |
| Late Renewal (within 90 days) | Fee + late penalty |
| Expired Over 90 Days | Must re-take exam |
Continuing Education Requirements
Colorado 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 DOI-approved providers
- Online and classroom options available
- Ethics course must cover Colorado-specific requirements
- Cannot repeat same course within 2-year period
- CE must be completed BEFORE license expiration
Exam Tip: Colorado requires 24 hours of CE with 3 hours of ethics. This is consistent with many other states following NAIC guidelines.
Renewal Process
- Complete CE before expiration date
- Submit renewal through NIPR or DOI online system
- Pay renewal fee (approximately $55)
- Receive renewed license
Late Renewal Consequences
| Timing | Consequence |
|---|---|
| Before expiration | Normal renewal |
| Up to 90 days late | Penalty fee, cannot practice until renewed |
| Over 90 days late | Must retake licensing exam |
Reporting Requirements
Colorado producers must notify the DOI 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
- Civil judgments related to insurance
Failure to Report
Failure to report changes within 30 days is a violation of Colorado insurance law and may result in disciplinary action.
Disciplinary Actions
The DOI can take disciplinary action against licensees for violations:
Types of Discipline
| Action | Description |
|---|---|
| Letter of Admonition | Minor first offense |
| Probation | License continues with conditions |
| Suspension | Temporary loss of license |
| Revocation | Permanent loss of license |
| Fine | Monetary penalty |
| 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
- Violations of unfair trade practices
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 |
Reinstating a License
To reinstate an expired or inactive license (within 90 days):
- Complete any outstanding CE
- Pay required fees
- Submit reinstatement application
- No re-examination required
How many hours of continuing education does Colorado require for license renewal?
Within how many days must a Colorado insurance producer report an address change to the DOI?
What happens if a Colorado insurance license expires and is not renewed for more than 90 days?