Sec. 2.5. The commissioner shall, not later than September 1, 2005, establish a policy to allow a waiver of the:
(1) continuing education requirements of this chapter; and
(2) license renewal requirements of IC 27-1-15.6 and this chapter;
for an insurance producer who is serving on active duty in the armed forces of the United States in an area designated as a combat zone by the President of the United States.