A fiduciary is someone who holds money or property for others in a position of trust. Premiums a licensee receives are held in a fiduciary capacity, and a person who diverts them to personal use is guilty of theft (Ins. Code §1733). Planning to pay the money back later is no defense.
The licensee must remit premiums, less commissions, to the insurer, or keep them in a separate FDIC-insured trust account, or as §1734.5 allows (§1734). Never mix premiums with personal money (no commingling).
Continuing education (§§1749.3, 1749.33):
The regular requirement for a resident licensee is 24 hours (the long-term care hours below count toward it).
An agent who holds both an A&H license and a property and casualty license completes 24 hours in all, using courses approved for any of the license types held, including 3 hours of ethics. The hours are not doubled.
Since March 1, 2023, the ethics hours include one hour on insurance fraud.
Long-term care (LTC) training (§10234.93): an agent must complete 8 hours of LTC training before soliciting LTC insurance, followed by ongoing LTC training on the schedule that section sets. Agents who market California Partnership for Long-Term Care policies also need 8 live classroom hours on the Partnership before marketing them (22 CCR §58056). This training does not increase the total CE hours required: the LTC hours count toward the requirement, although they may leave someone with more than the minimum.
Administrator (§1759): a person who collects charges or premiums from, or adjusts or settles claims on, California residents in connection with life or health coverage or annuities. Excluded, among others: an employer for its own employees, a union for its own members, and a licensed agent or broker whose activities are limited exclusively to selling insurance. A hired third-party firm that collects premiums and settles claims for a health plan is an administrator.