More About Insurance

Bank Insurance Compliance: Fundamentals (BIC) is a self-study course that describes the state and federal regulatory requirements that are imposed on insurance sales by banks and bank-affiliated insurance agencies and broker-dealers.

Who Should Enroll?

The BIC course was developed in cooperation with the American Bankers Insurance Association, an affiliate of the American Bankers Association. It is designed for employees working in bank insurance at financial institutions as well as bank-affiliated agencies and broker-dealers. Insurance company employees who work with the insurance sales areas in banks, their affiliates, and broker-dealer firms, will also benefit from this course.

What Can You Expect to Learn?

When you complete this course, you’ll be able to:

Explain how the state and federal governments divide responsibility for regulating bank insurance operations

Identify the requirements that federal banking laws impose on bank insurance operations

Identify and describe the regulatory requirements that state insurance laws and federal securities laws impose on the marketing and sale of insurance products

Describe how state and federal regulators oversee the operations of insurers and banks that affiliate to market insurance to bank customers

How Can You Enroll?

Students and employees of LOMA member companies may register for the course through their Educational Representative. Members of the ABA, ABIA, independent students, and those less familiar with LOMA's enrollment and exam administration process and requirements may download the BIC Paper Exam Enrollment Form and Instructions to register for the paper exam. Computerized exams are also available to participating member companies via I*STAR, and also at Prometric Testing Centers throughout the United States and Canada.

Can I Get CE Credit or Certification for This Course?

Most states offer CE credit upon successfully passing the BIC examination. To view a chart of states that accept credit for completion of the BIC coursework, click here. Students who wish to earn CE credit or request a Certificate of Course Completion must submit their request in writing.

Students participating at LOMA member companies should apply for CE credit using the BIC CE Credit Request Form.

ABIA, ABA, and Independent students should use the BIC Paper Exam Enrollment Form and Instructions when applying for CE credit.

Additional Benefits of the BIC Course

The textbook and the LOMA-administered examination will each count toward the American Bankers Association Institute of Certified Bankers’ (ICB’s) CRCM (Certified Regulatory Compliance Manager) designation, as follows:

Delivery Method

Credit Hours

LOMA Administered Exam

22.50

Text only

11.25

ICB members must complete and fax or mail a Continuing Education Submission Form to the ICB in order to receive this credit. You can find the form by clicking on "Continuing Education" at www.aba.com\icbcertifications.

Online Tutorial

An Internet-based tutorial is available for Bank Insurance Compliance: Fundamentals. For additional information about the online tutorial, contact the ABA:

American Bankers Association

Phone:1-800-BANKERS

Fax: 202-663-7543

P.O. Box 79064

Baltimore, MD 21279-0064

The cost of the tutorial is $299.95 for non-members or $199.95 for members of the ABA, ABIA, or LOMA.

To Purchase the Text

Cost for the Bankinsurance Compliance: Fundamentals text is $39.95 for non-members and $29.95 for members of the ABA, ABIA, or LOMA. To purchase copies, contact:

PBD Worldwide Fulfillment Services, Inc.

Ph: 800-887-3723 or 770-442-8631

Fax: 770-442-9742

Mail: P.O. Box 930108

Atlanta, GA 31193-0108

E-mail: Lnh@pbd.com

Internet: www.pbd.com

Enrollment Information

If you need information about how to enroll for LOMA exams, click here to access LOMA’s Education and Training Catalog and review the “Exams” section that begins on page 59.

For more information about any aspect of the Bankinsurance Compliance: Fundamentals program, e-mail education@loma.org.