The failure of any resident licensee to pay the record-keeping fee and/or meet the biennial continuing education requirement will result in the lapse of the producer license on the day following the licensee’s compliance deadline. Resident producers have six months to reinstate a license by completing all requirements, which includes completing credit hours, paying a record-keeping fee to Prometric, and paying a $50 late CE compliance fee to the South Carolina Department of Insurance. The Department of Insurance will notify Prometric when the $50 penalty fee has been paid and Prometric will notify the department when all CE requirements have been completed. When this process is completed, the license and appointments will be reinstated.
If your license lapses, you cannot conduct any business of insurance. If you have an agency or broker license, they will likewise lapse and remain lapsed until your producer license is reinstated.
If all requirements are not completed within six months, the license and all appointments will cancel. In order to regain licensure, the resident producer will be required to retake and pass the state licensing exam and meet all requirements to become re-licensed.