How frequently must insurance brokers renew their licenses under the RIBO Act?

Under the RIBO Act, insurance brokers must renew their licenses every two years. This requirement helps to ensure that brokers remain knowledgeable about current laws, regulations, and industry practices, which is critical for maintaining professional standards in the insurance industry. The two-year renewal cycle also allows brokers to complete any necessary continuing education requirements, ensuring they are equipped to serve their clients effectively. Regular renewal enhances accountability and promotes continuous professional development among insurance brokers.