INSURANCE; CONT. EDUCATION CREDITS S.B. 133 (S-1):
SUMMARY OF BILL
REPORTED FROM COMMITTEE
Senate Bill 133 (Substitute S-1 as reported)
Committee: Finance, Insurance, and Consumer Protection
INSURANCE; CONT. EDUCATION CREDITS S.B. 133 (S-1):
SUMMARY OF BILL
REPORTED FROM COMMITTEE
Senate Bill 133 (Substitute S-1 as reported)
Committee: Finance, Insurance, and Consumer Protection
CONTENT
The bill would amend Chapter 12 (Agents, Solicitors, Adjusters, and Counselors) of the Insurance Code to allow an insurance producer to credit up to four hours towards the producer's required, biennial 24 hours of continuing education if that producer or the producer's employing insurance agency were an active member of a local, regional, State, or national professional insurance association and met certain requirements.
MCL 500.1204c
BRIEF RATIONALE
According to testimony, Michigan should align with other state's procedures by allowing time spent in service of the insurance industry to be credited toward the number of required hours of continuing education. Some have argued that four hours of service on a formal trade association should count toward these requirements.
PREVIOUS LEGISLATION
(This section does not provide a comprehensive account of previous legislative efforts on this subject matter.)
The bill is a reintroduction of Senate Bill 378 of the 2023-2024 Legislative Session. Senate Bill 378 passed the Senate and was discharged from the House Committee on Insurance and Financial Services but received no further action.
FISCAL IMPACT
The bill would have no significant fiscal impact on State or local government. The bill would require the Department of Insurance and Financial Services to have some more oversight responsibilities identical to what it already does. The cost of these responsibilities would likely be absorbed.
Date Completed: 10-28-25 Analyst: Nathan Leaman
floor\sb133 Bill Analysis @ www.senate.michigan.gov/sfa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.