When we think of the U.S. Virgin Islands, we call to mind hiking through lush mountains, lounging on sandy beaches, and kayaking through blue waters. But the U.S. Virgin Islands aren’t all fun and games. Resident producers are held to producer licensing continuing education (CE) requirements just like every other U.S. state and territory.
Maintaining your resident producer license is key to keeping your nonresident licenses in good standing, and CE is central to that. So, while we’ve done a deep dive into the U.S. Virgin Islands’ CE requirements, it’s always a good idea to do your own due diligence to make sure you stay in compliance.
What is the due date for U.S. Virgin Islands Insurance Continued Education Credits?
Resident producer licenses remain active until Dec. 31 every year so long as licensing fees are paid and CE requirements are met.
That may seem straightforward enough, but producers must be sure to complete CE requirements by each biennial compliance period. That means license expiration dates and CE due dates are not one and the same here.
Who’s exempt from U.S. Virgin Islands Insurance CE?
If you’re a nonresident producer in the U.S. Virgin Islands, then you may not need to comply with these CE requirements. The U.S. Virgin Islands doesn’t require nonresident producers from meeting CE requirements so long as the producer’s resident state allows the same guarantees to nonresident producers residing in the U.S. Virgin Islands.
Even if you’re a resident producer in the U.S. Virgin Islands, you may be exempt from these CE requirements. If you cannot meet these requirements due to military service or some other extenuating circumstance, you can request a waiver for failing to meet renewal requirements.
How many hours of CE are required for U.S. Virgin Islands insurance producers?
Resident producers must complete 24 hours of CE credits for each biennial renewal period. Three of these 24 hours of CE credits must be in an ethics course.
To make things equitable, the U.S. Virgin Islands requires that CE courses are available throughout the entire territory to ensure any resident producer in any region in the territory has an opportunity to attend a course either in person or online.
Finally, while the U.S. Virgin Islands are fairly relaxed in terms of CE requirements, the territory is clear that producers must take CE courses specific to their licensed lines of authority.
For more information about state-specific licensing requirements, or to find out how AgentSync can make it easier to operate across multiple states, check out our state pages.
U.S. Virgin Islands Insurance CE FAQs
What happens if I let my license lapse?
Not to worry! The U.S. Virgin Islands will allow resident producer licenses to reinstate within 12 months from the date of renewal without requiring a written examination.
Will I need to pay a fee if I let my license lapse?
That really depends. The U.S. Virgin Islands gives you a 15-day grace period to get your producer license in order. After those 15 days, however, you can expect to pay a penalty fee for late renewal.