Section 1. Statutory Authority
This Regulation is promulgated by the Commissioner of Insurance of the State of Mississippi to implement Sections 83-5-1, 83-17-205, 83-17209 and 83-17-211, Mississippi Code of 1972, as Amended.
Section 2. Purpose
The purpose of this Regulation is to establish pre-license educational requirements and to improve the competency of applicants applying for a privilege license to act as a property and casualty insurance agent within the boundaries of this state.
Section 3. Applicability
This Regulation shall apply to all resident individuals who apply for a first time Mississippi agent's license to engage in the offering for sale or selling of property and casualty insurance; however, this regulation does not apply to non-resident property and casualty agents, nor limited licenses of industrial fire, small loan, full coverage automobile, physical damage on household goods or limited surety.
Section 4. Requirements
All individuals desiring to engage in the business of property and casualty insurance as an agent, as defined in Sections 83-17-1 and 83-17-203, Mississippi Code of 1972, shall be required to complete a minimum twenty-four (24) clock hours of insurance education prior to applying for an initial privilege license.
The curriculum for such educational program shall include, but not necessarily be limited to, the following basic subjects: 1. Insurance Fundamentals, 2. The Insurance Contract, 3. Introduction to Property Insurance, 4. The Standard Fire Policy, 5. Dwelling Policies, 6. General Property Form, 7. Time Element Coverages, 8. Homeowners Insurance, 9. Commercial Package Policies, 10. Introduction to Casualty Insurance, 11. An Overview of General Liability, 21. Major Coverage Parts of General Liability, 13. Automobile Insurance, 14. Worker's Compensation, 15. Crime & Surety Coverages, and 16. Mississippi Insurers and Statutory Law.
Section 5. Certification
It shall be the responsibility of each insurer sponsoring such applicant to certify that such applicant has successfully met the twenty-four (24) clock hour educational requirement. Such certification shall be filed with the Commissioner on a prescribed form at the time application for privilege license is submitted.
Section 6.. Approval of Courses
The Commissioner shall annually approve a schedule of subjects, comprising the 24 required hours, as submitted by universities, junior colleges, technical or trade schools, proprietary schools, insurance companies, or insurance trade organizations who wish to conduct such course of study.
Section 7. Certificates of Completion
Organizations who sponsor educational programs shall issue a certificate of completion and retain, for twenty-four (24) months, a roster of those persons who have completed the course.
Section 8. Examination Preceding Classes
An individual shall be allowed to pass the property and casualty licensing examinati-on, and then fulfill the twenty-four (24) classroom hour requirement prior to the privilege license being issued by the Mississippi Insurance Department.
Section 9. Optional Methods of Fulfilling Requirements
An individual may fulfill the twenty-four (24) classroom hour requirement by any of the following optional methods:
The Commissioner may appoint, to serve at the Commissioner's will and pleasure, a seven member Insurance Pre-examination Advisory Board to include representatives of insurance agencies, insurance companies, or insurance educators to make recommendations on the most effective curricula, schedules, and materials for the courses.
Section 11. Exemptions
This regulation shall not apply to any agent who possessed a valid privilege license to act as an insurance agent prior to the effective date of this regulation.
This regulation will take affect and be in force from and after March 1, 1986.
Promulgated and adopted, this the 15th day of January _ , 1986.
GEORGE DALE, COMMISSIONER OF INSURANCE