Key Takeaways
- Colorado insurance licenses are valid for 2 years and must be renewed before expiration
- Renewal requires 24 hours of continuing education per renewal period
- CE must include 3 hours of ethics training
- Licenses not renewed within 90 days of expiration require re-examination
- Address changes must be reported to the DOI within 30 days
License Maintenance and Continuing Education
Colorado insurance licenses require ongoing maintenance through continuing education and timely renewal.
License Terms and Renewal
| Item | Requirement |
|---|---|
| License Term | 2 years |
| Renewal Fee | Approximately $55 |
| Late Renewal (within 90 days) | Fee + late penalty |
| Expired Over 90 Days | Must re-take exam |
Continuing Education Requirements
Colorado requires 24 hours of continuing education (CE) every 2 years:
CE Requirements
| Requirement | Hours |
|---|---|
| Total CE Hours | 24 |
| Ethics (required) | 3 |
| Electives | 21 |
| CE Period | 2 years (matches license term) |
CE Course Requirements
- Must be completed at DOI-approved providers
- Online and classroom options available
- Ethics course must cover Colorado-specific requirements
- Cannot repeat same course within 2-year period
- CE must be completed BEFORE license expiration
Exam Tip: Colorado requires 24 hours of CE with 3 hours of ethics. This is consistent with many other states following NAIC guidelines.
Renewal Process
- Complete CE before expiration date
- Submit renewal through NIPR or DOI online system
- Pay renewal fee (approximately $55)
- Receive renewed license
Late Renewal Consequences
| Timing | Consequence |
|---|---|
| Before expiration | Normal renewal |
| Up to 90 days late | Penalty fee, cannot practice until renewed |
| Over 90 days late | Must retake licensing exam |
Reporting Requirements
Colorado producers must notify the DOI of changes within 30 days:
- Change of business address
- Change of residence address
- Change of name
- Administrative actions by other states
- Criminal charges or convictions
- Civil judgments related to insurance
Failure to Report
Failure to report changes within 30 days is a violation of Colorado insurance law and may result in disciplinary action.
Disciplinary Actions
The DOI can take disciplinary action against licensees for violations:
Types of Discipline
| Action | Description |
|---|---|
| Letter of Admonition | Minor first offense |
| Probation | License continues with conditions |
| Suspension | Temporary loss of license |
| Revocation | Permanent loss of license |
| Fine | Monetary penalty |
| Restitution | Payment to harmed parties |
Common Violations
- Misrepresentation to clients
- Failure to disclose material information
- Commingling of funds
- Unauthorized transactions
- Failure to maintain CE requirements
- Felony conviction
- Violations of unfair trade practices
License Status
| Status | Meaning |
|---|---|
| Active | License current and in good standing |
| Inactive | Not actively practicing |
| Expired | License term ended, not renewed |
| Suspended | Temporary disciplinary action |
| Revoked | License permanently cancelled |
Reinstating a License
To reinstate an expired or inactive license (within 90 days):
- Complete any outstanding CE
- Pay required fees
- Submit reinstatement application
- No re-examination required
How many hours of continuing education does Colorado require for license renewal?
Within how many days must a Colorado insurance producer report an address change to the DOI?
What happens if a Colorado insurance license expires and is not renewed for more than 90 days?