Insurance License in CO with a felony??

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PostPosted: Thu Apr 15, 2010 7:16 pm   Post subject: Insurance License in CO with a felony??  

Hi I know this question has probably been asked a thousand times but I currently have an active P & C license in Arizona I have since moved to Colorado and I want to get a license here. Problem is I have a Class 4 Felony Drug Possession conviction and to apply for a license in CO I need to give up the License in Arizona. Can you get a License in Colorado with a F4 conviction I don't believe it's a breach of trust felony as I was not convicted with the "intent to distribute" which is an F3. If anyone has experience or can point me in the right direction I'd greatly appreciate it. Thank you.


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Bigdawg
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PostPosted: Sun Apr 18, 2010 5:04 am   Post subject:   

You don't need to give up your Arizona license, you just need to simultaneously convert it to nonresident status.



I am not as expert in my knowledge of Colorado insurance law as California, but I believe the principle is about the same in all states. You'll have to disclose the conviction (how long ago was it? Before or after you were licensed in Arizona?) on your application.



If it occurred prior to being licensed in Arizona, it should not be a problem with Colorado. If they deny your application, then you could consider going back to Arizona.



My real question is, why didn't you apply for a non-res Colorado license before you moved there? The issue would have been decided at that point. If issued, then you just apply to convert your CO non-res license to resident, and your AZ resident license to non-res. Pretty simple.



And in all actuality, I believe CO is pretty laid back. They don't even have a prelicensing education requirement in order to take a license exam.



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PostPosted: Wed Apr 21, 2010 6:09 pm   Post subject: felony  

I have a felony that is 20 years old for bad checks. I have been approched by a couple of friends that are insurance brokers about getting my license. Can you get an insurance license in Colorado with a felony conviction?


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diverdoncolorado
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PostPosted: Wed Apr 21, 2010 8:50 pm   Post subject:   

Your felony is one that is governed under the Federal Violent Crime Control and Law Enforcement Act 18USC 1033 -- a state or federal felony involving dishonesty or breach of trust.



Under this law, a person is prohibited from engaging in the business of insurance without a consent waiver from the regulator in the state of licensure. This does not mean you cannot qualify for a license, but it does mean you will probably have to appear at a public hearing to determine your qualifications for licensing.



If you have had a (relatively) spotless life in the intervening 20 years, the likelihood is that you will be granted a waiver. However, on the securities side of our business, variable life insurance & annuity products, mutual funds, etc., any felony conviction at any time in a person's adult life is an absolute bar to a securities license. So there will some aspects of the business that you will not be able to pursue or fulfill for your clients.



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PostPosted: Thu Apr 29, 2010 3:31 am   Post subject:   

it is not that hard to get the waiver........and it takes a little longer....i had a 33 year felony.....i did not disclose it......the pa....insurance commission ......they found it......i had to jump thru some hoops......but i got the license...with the waiver....one good thing.....when you go for insurance company appointments they only go back 7 years.....at first i was disclosing it to them......but realized it was not necessary.... good luck......


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PostPosted: Wed Sep 15, 2010 1:59 am   Post subject:   

I have a felony reduced to a misdemeanor and then expunged 15 years ago in California for welfare fraud. I would like to get a license for F/C and Life in Arizona will I have a problem


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ajcole
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PostPosted: Thu Oct 14, 2010 4:48 pm   Post subject:   

I have my casualty licensed in California, i just got it 2 month ago, and am moving to Colorado Denver, what do I do. Do i have to go to school and pass the test again? Or I could use the one from California?


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Chile Relleno
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PostPosted: Thu Oct 14, 2010 9:31 pm   Post subject:   

Your question was posted and answered in the AUTO forum. But here goes (again).



Your CA insurance license is only useful for transacting insurance in the state of California. To transact insurance in the state of Colorado, you will need a CO insurance license. It can either be a resident or non-resident license. You may only have one resident license, either CA or CO.



If you are moving permanently to CO, then you should apply now for a CO non-resident license, and when you relocate to CO, then convert your CA license to non-resident and your CO license to resident. No test, no prelicensing class. Just paperwork, fees, and fingerprints.



This whole scenario should have been discussed in your prelicensing class when the whole subject of licensing issues came up. It does when I teach it.



Go to the NIPR website for more information.



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PostPosted: Thu Nov 17, 2011 3:52 am   Post subject: f4 felony in colorado  

I have a f4 felony conviction for distribution of marijuana which I am on parole for. Can I still obtain a license in Colorado for life and health insurance in Colorado. Will they check if I put no on application or do they check?


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PostPosted: Thu Nov 17, 2011 4:37 am   Post subject:   

If you have to ask whether to answer YES or NO about a felony conviction on an insurance license application, you don't belong in the industry.



The felony you describe is not one that would prohibit you from being licensed. But you will have to be at least five years post-conviction before applying for a license.



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PostPosted: Tue Oct 01, 2013 5:13 pm   Post subject:   

I have a federal felony of distribution of illegal drugs..in Colorado. Post conviction 5 years. Good record before and after conviction.

My question is..

I would like to obtain employment working in insurance industry;

How do I go through this process..step for step and will I be allowed to work with my conviction? Thank you


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victim of category:Felon
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PostPosted: Tue Oct 01, 2013 6:02 pm   Post subject:   

You will have to seek a Waiver under 18 USC 1033, 1034 from the commissioner of insurance. Based on your conviction and time since that event, you are unlikely to be granted a waiver. But I don't make that decision, only the commissioner does. You will have to pay the nonrefundable fees and file the required paperwork and wait for the answer.



My suggestion: try some other field of work that is not so highly regulated as insurance and financial services.



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PostPosted: Wed Oct 16, 2013 10:37 pm   Post subject: Can I get an insurance license with a securities barr that  

I received a bar from the NASD 20 years ago. Originally I had received a 15 day suspension and a $10,000 fine. I did not want to pay the fine. It was explained that if I took a bar then I would never have to pay the fine; however if I did not take a bar then the NASD could come after me for the money regardless if I decided to leave the industry. I asked to be barred. Now 20 years later I would like to get a Life and Health Insurance license in the state of Colorado. I am not looking to sell any type of securities. Does anyone know whether or not I would be able to get a license?



P.S. I was accused, as a manager with a series 24 license, of allowing my brokers to use misleading and deceptive scripts. Can anyone help me with the answer?


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PostPosted: Thu Oct 17, 2013 5:27 am   Post subject:   

Quote:
Now 20 years later I would like to get a Life and Health Insurance license in the state of Colordo. I am not looking to sell any type of securities. Does anyone know wheather or not I would be able to get a license?


The NASD bar is problematic. You will have to disclose the action in your license application ("Have you ever had a professional license suspended or revoked?"). The offense is an "integrity" issue. The fact that this occurred 20 years ago could be in your favor. But it will be up to the Insurance Commissioner to make the final determination.



You can try talking to the CDI in advance and see what they say.


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MaxHerr
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PostPosted: Sat Oct 19, 2013 12:59 am   Post subject:   

Thank you for taking the time. Have a wonderful day!


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