If a producer's license was revoked for a violation of the Insurance Code, when can the producer apply for a new license?

When a producer's license is revoked due to a violation of the Insurance Code in Colorado, the producer is eligible to apply for a new license after a waiting period of two years. This two-year period serves as a cooling-off period that allows the individual to reflect on the reasons for the revocation and any necessary changes they need to make before reapplying.

This regulatory approach aims to ensure that only those who have demonstrated compliance with the law and ethical standards are granted the privilege to operate in the insurance industry again. The longer waiting period reflects the seriousness of the violation and is consistent with industry practices aimed at upholding professionalism and protecting consumers.

In contrast, the other options suggest shorter waiting periods or no opportunity for reapplication, which do not align with the established guidelines governing the reinstatement of a producer's license following a revocation.