CE Credit for Association Membership

The Issue: A number of states have enacted laws or regulations that permit financial advisors to receive some continuing education (CE) credit for their active membership and participation in a professional agent trade association subject to the approval of the state insurance department. 
 
NAIFA Position: NAIFA supports legislation that would permit insurance producers to receive CE credit for their membership in a professional insurance association. Professional insurance associations, like NAIFA, promote high standards of ethical conduct among their members and provide educational programs and professional development opportunities to association members. We believe that state proposals to allow advisors to receive some CE credit for association membership could encourage financial advisors to become members of professional insurance associations, which would ultimately benefit consumers by providing access to better qualified advisors.    
 
NAIFA developed its own model state legislation that would allow financial advisors to receive some CE credit for actively participating as members of professional insurance associations, subject to approval of state insurance commissioners. The NAIFA model legislation would allow for financial advisors to receive up to four hours of CE credit per reporting period for membership in a professional insurance association. Under the NAIFA model, members must demonstrate active participation in the association to qualify for such CE credit. The NAIFA model gives authority to state insurance commissioners to define the term “active participation," specify the associations where membership would be eligible for CE credit, and require any other criteria the commissioners may deem necessary. The NAIFA model legislation is based on laws already enacted in some states.