Video: Reasons to Revoke an Insurance License

Reasons to Revoke an Insurance License

An insurance license may be revoked for a number of different reasons including continuing education. Learn about the reasons to revoke an insurance license with help from a longtime insurance broker in this free video clip.

Video Transcript

My name is Susan Combs and I'm an insurance broker for Combs and Company. Today, we're going to talk about reasons for revoking an insurance license. So there's a few main reasons that you would have your insurance license revoked. The first one is continuing ed. So each state has a list of requirements for continuing education so that's you know, continuing schooling for you as an insurance professional. So some states, a lot of states are 15 hours for every two years so if you do not meet those requirements, they can revoke your license. Another big one is fraud, if you are fraudulent on the application, they can revoke your license for that. They can also revoke your license for what's called twisting or rebating. So rebating is if you would be giving somebody a kickback for buying a policy from you and then twisting is you know, when you convince somebody to cancel a policy and take another policy with you, I mean it's not in the client's best interest. And then the other one is a felony charge, so you know most instances in most states you are not allowed to be a convicted felon and also a licensed insurance professional. So the best thing to do is to go to your state insurance website and see what the lists are because each state can actually be a little bit different.

Reasons to Revoke an Insurance License

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