1.3 License Maintenance and Continuing Education
Key Takeaways
- Florida insurance licenses must be renewed every 2 years (biennial cycle)
- Renewal requires 24 hours of continuing education, including 3 hours of ethics and 5 hours of law updates
- Licenses not renewed within 48 months of expiration are void and require re-examination
- Address and name changes must be reported to DFS within 60 days
- Producers must complete 5 hours of Florida law updates every renewal period
Florida 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 Fee | $55 for 2-15 license |
| Renewal Period | 90 days before expiration |
| Grace Period | Cannot sell during lapse |
Expiration Schedule
Florida licenses expire based on birth month in even-numbered years:
| Birth Month | Expiration |
|---|---|
| January-March | End of March (even years) |
| April-June | End of June (even years) |
| July-September | End of September (even years) |
| October-December | End of December (even years) |
Continuing Education Requirements
Florida requires 24 hours of continuing education (CE) every 2 years:
CE Breakdown
| Requirement | Hours |
|---|---|
| Total CE Hours | 24 |
| Ethics (required) | 3 |
| Florida Law Updates (required) | 5 |
| Electives | 16 |
Florida Law Updates
The 5-hour law update requirement is unique to Florida:
- Covers changes to Florida insurance law
- Must be Florida-specific course
- Cannot be satisfied with general CE
- Updates every biennium
Exam Tip: Florida requires BOTH 3 hours of ethics AND 5 hours of Florida law updates. This totals 8 mandatory hours of the 24 required.
CE Course Requirements
- Must be completed at DFS-approved providers
- Online and classroom options available
- Cannot repeat same course within biennium
- CE must be completed BEFORE license expiration
- CE credits reported electronically by providers
Renewal Process
Steps to Renew
- Complete CE before expiration date
- Log into MyProfile at MyFloridaCFO.com
- Verify CE completion is recorded
- Submit renewal application
- Pay renewal fee ($55 for 2-15)
Late Renewal Consequences
| Timing | Consequence |
|---|---|
| Before expiration | Normal renewal |
| Up to 12 months late | Late fee + CE required |
| 12-24 months late | Additional requirements |
| 24-48 months late | May reinstate with requirements |
| Over 48 months late | Must retake exam |
Reporting Requirements
Florida producers must notify DFS of changes within 60 days:
Required Notifications
- Change of business address
- Change of residence address
- Change of name
- Change of business entity
- Administrative actions by other states
- Criminal charges or convictions
How to Report
- Update through MyProfile online portal
- Or submit in writing to DFS
- Failure to report is a violation
Disciplinary Actions
DFS can take disciplinary action against licensees for violations:
Grounds for Discipline
- Violating insurance laws or regulations
- Fraudulent or dishonest practices
- Misappropriation of funds
- Misrepresentation to clients
- Failure to maintain CE
- Failure to report required information
- Criminal conviction
Types of Discipline
| Action | Description |
|---|---|
| Letter of Warning | Minor first offense |
| Probation | License continues with conditions |
| Fine | Up to $5,000 per violation |
| Suspension | Temporary loss of license |
| Revocation | Permanent loss of license |
Administrative Fines
| Violation Level | Maximum Fine |
|---|---|
| Minor violation | $500 per violation |
| Major violation | $2,500 per violation |
| Willful violation | $5,000 per violation |
| Pattern of violations | Up to $20,000 |
License Status Types
| Status | Meaning |
|---|---|
| Active | License current and in good standing |
| Inactive | Not actively selling (voluntary) |
| Expired | License term ended, not renewed |
| Suspended | Temporary disciplinary action |
| Revoked | License permanently cancelled |
| Cancelled | Voluntarily surrendered |
How many hours of continuing education does Florida require for license renewal?
How many hours of Florida law updates are required for each renewal period?
Within how many days must a Florida insurance producer report an address change to DFS?