General Requirements
New Mexico Major Lines Licensed Insurance Agents are required to complete 24 credits of continuing education every 2 years prior to their license expiration date. Of the 24 Credits required, 3 credits must be done in the category of Ethics Training. The remaining requirements are “license type specific”: Agents must take courses in the line of authority in which they are licensed in and they are approved by the New Mexico Department of Insurance. A minimum of 3 hours for each compliance period must be earned through Classroom, Classroom Equivalent, Webinar or Seminar.
Major Lines licenses include:
- Life, Accident and Sickness
- Property and Casualty
- Personal Lines
Producers licensed in multiple major lines (Property and Life, for example) are only required to meet the same requirements as Producers with single lines of licensing. In other words: you only have to take 24 credit hours of CE if you hold multiple lines of licensing.
Agents must complete their CE Requirements prior to their license expiration date to be eligible to renew their license. It is highly recommended that agents complete their CE Requirements at least 48 hours in advance of their license expiration date to ensure that their renewal application is made available. Upon completion of all CE Requirements, licenses can be renewed online through NIPR.com, or Sircon.com. The renewal fee is $60 total, regardless of the number of major-lines licenses being renewed. New Mexico also charges an additional $2 per credit hour “filing fee” that must be collected by the CE provider and remitted when credits are filed.
Licenses are eligible for renewal when:
- all CE Requirements have been completed.
- when the licensee is within 90 days of their license expiration date.
Special Training Requirements
There are special training requirements for New Mexico insurance agents who sell certain products. These courses count towards your CE Requirements.
Annuity Training
Any New Mexico life insurance agent who sells, solicits or negotiates an annuity product must complete a one-time, 4 Hour Annuity Best Interest Training Course prior to selling.
Flood Insurance
New Mexico insurance agents who sell Flood Insurance must complete a 1 – time, 4 hour Flood Training Course.
Long Term Care
New Mexico insurance agents may not sell, solicit or negotiate a Long-Term Care policy unless the individual has completed an initial 8 Hour Long Term Care Training Course. Agents must also complete ongoing training consisting of 4 hours each compliance period thereafter.
CE Exemptions and Reductions
Exemptions
A Grandfather Exemption is available to active licensees who have been continuously licensed and in good standing for 25 or more years, with no lapse exceeding 90 days. (This does not exempt licensees from specialized training for Flood, LTC, or Stop Loss.) To apply, submit a written request detailing your 25 years of insurance experience. Submit requests via email to: agents.Licensing@state.nm.us
Non-Resident Agents are exempt as long as they have met the CE and Renewal Requirements of their Home State where they hold their License.
Extensions.
Licensees who meet the criteria of illness, medical disability, military deployment or circumstances beyond the control of the licensee may apply for an extension of time to complete their continuing education requirement or a waiver, in whole or in part, of the continuing education requirement.
- The superintendent shall establish the duration of the extension when it is granted.
- If the circumstances supporting the extension continue beyond the granted extension period, the licensee may reapply for an extension.
- The licensee must request the extension prior to the end of the compliance period for which it applies, using the form available on the OSI website.
- Licensees called to active military service in a combat theater, may apply for an exemption from or an extension of time for meeting the continuing education requirements or extending their license renewal. The licensee must request the extension or waiver prior to the end of the compliance period, using the form available on the OSI website.
Agent should submit requests via email to: agents.Licensing@state.nm.us
Course Repeat Restrictions
Agents will not receive credit for the same course taken within the same compliance period.
Carryover Credits
Any credits earned in excess of the 24 credit requirements cannot be carried over to future renewal periods.
Late Renewal and Reinstatements
There is a 30 day late renewal grace period. New Mexico insurance agents who fail to meet their renewal requirements prior to their license expiration date have 30 days to renew their license within the grace period for a late fee of $150.00. If a license is not renewed within the grace period, Agents can renew their license late between 31 days and one year by completing all outstanding CE Requirements and paying a late renewal fee of $120. Agents who do not reinstate within 1 year from their license expiration date must relicense.
New Mexico Insurance Agent Continuing Education & Renewal Requirements Summary
| Renewal Term | Every 2 Years |
| Renewal Date | Last Day of Birth Month – Every 2 Years |
| CE Requirements | 24 Credits Total (3 in Ethics) |
| Course Requirements | License Type Specific (Courses May Be Taken in Line of Authority in Which an Agent is Licensed In) |
| Special Training | Flood – 1 Time Prior to Selling Annuities – 1 Time Annuity Best Interest Training Course Long Term Care – 8 Hour Initial, 4 Hours Every Renewal Period Following |
| Exemptions | Non-resident agents. Limited Lines only agents. |
| Renewal Fee | $60 |
| Renewal Site | NIPR.com or Sircon.com |
| Missed Renewal | License Expired after 30 days of expiration date |
| Late Renewal, Reinstatement, Fees | Reinstatement for up to 1 year + $120. After 1 Year – Relicense |
| Carryover Credits | Credits Earned in Excess of Requirements Are Not Carried Forward |
| Course Repeat Restrictions | Courses cannot be repeated within a single compliance period |
New Mexico Department of Insurance Contact Information
Website: https://www.osi.state.nm.us/
Phone: 855-427-5674
Address Albuquerque:
6200 Uptown Blvd NE #400, Albuquerque, NM 87110
USPS Mailing Address Santa Fe:
P.O. Box 1689, Santa Fe, NM 87504-1689
Santa Fe Non-USPS Deliveries:
1120 Paseo De Peralta, Santa Fe, NM 87501
