Section 60K.361 Insurance Education
60K.361 INSURANCE EDUCATION.
(a) Prelicense education must consist of 20 hours of education per line of authority.
(b) The course must include an introduction to insurance and insurance-related concepts covering all of the major lines of authority except variable life and variable annuities. The course must consist of the following:
(1) rules, regulations, and law;
(2) basic fundamentals of insurance;
(3) property:
(i) types of policies;
(ii) policy provisions;
(iii) perils, exclusions, deductibles, and liability; and
(iv) evaluating needs;
(4) casualty:
(i) types of policies;
(ii) policy provisions;
(iii) perils, exclusions, deductibles, and liability; and
(iv) evaluating needs;
(5) life:
(i) types of policies;
(ii) policy provisions; and
(iii) group insurance; and
(6) accident and health:
(i) types of policies;
(ii) policy provisions; and
(iii) group insurance.
(c) Courses that cover a specific major line of authority must include the following:
(1) life:
(i) types of life insurance policies; and
(ii) Minnesota laws, rules, and regulations pertinent to life insurance;
(2) accident and health:
(i) types of health insurance policies; and
(ii) Minnesota laws, rules, and regulations pertinent to accident and health insurance;
(3) property:
(i) personal lines;
(ii) commercial lines; and
(iii) Minnesota laws, rules, and regulations pertinent to property insurance.
(4) casualty:
(i) personal lines;
(ii) commercial lines; and
(iii) Minnesota laws, rules, and regulations pertinent to casualty insurance; and
(5) personal lines:
(i) types of property/casualty personal lines insurance policies; and
(ii) Minnesota laws, rules, and regulations pertinent to property/casualty personal lines insurance.
History:
2009 c 63 s 28,78; 2010 c 384 s 13