Regulatory Updates

Effective January 7, 2026, Virginia will display on the Producer Database the license class of Pharmacy Benefits Manager.

Effective January 7, 2026, Rhode Island will display on the Producer Database the following Lines of Business for the Company Fraternal license type. - Life - Accident and Health (Life) - Annuities

Idaho releases its December newsletter. Some highlights are: - **NAIC Accreditation:** The Idaho Department of Insurance (DOI) has again earned NAIC accreditation, confirming strong financial oversight, regulatory excellence, and consumer protection while helping keep insurance markets stable and affordable in Idaho. - **Medicare Advantage Enforcement:** DOI Director Dean Cameron addressed NAIC leaders on unfair Medicare Advantage marketing practices affecting Idaho seniors. After carrier withdrawals and reduced plan options in 2024–2025, the Department identified actions that limited consumer choice and violated Idaho’s Unfair Trade Practices Act. - **1332 Waiver Update:** Public comments on Idaho’s 1332 reinsurance waiver extension and amendment are under review, with final submission to CMS planned for early 2026. - **DOI 2024 Annual Report:** The Department’s annual report for calendar year 2024 / fiscal year 2025 is now available online.

Please see the attachment for more information.

Posted December 30, 2025, the Florida Surplus Lines Service Office (FSLSO) posted June’s edition of The Wire. Highlights include: - **Q4 Filing Reminder:** Fourth-quarter invoices process January 1. All filings and contact info must be complete by December 31. Unresolved URP or URF TIQs will prevent related credits from being processed. - **SLIP+ Update:** Agent contact information (primary, accounting, compliance) will now sync from the agency account and can only be edited at the agency level. Agents should review and update agency contacts in SLIP+. - **Surplus Lines Fees Guidance:** - Filing surplus lines agents may charge one reasonable per-policy fee, which must be listed on the policy and is taxable. - Retail agents may charge a separate per-policy fee, disclosed to the customer but not taxable or shown on the policy. - No additional or excess fees are permitted; improper fees must be refunded and may trigger compliance action. - **Insurer Update:** Rockingham Casualty Company is no longer an eligible surplus lines insurer in Florida as of November 5, 2025 (status changed to Withdrawn). Please see the attachment for more information.

Effective January 1, 2026, Vermont's Continuing Education (CEs) service fee will be updated. Please see the attachment for more information

Posted December 19, 2025, The Excess Line Association of New York (ELANY) posted an update from a previously posted bulletin (2025-08) on February 24, 2025.

This bulletin advised all excess line brokers that the position of the New York Department of Financial Services (DFS) holds that “Policy” fees payable to an excess line insurer are consideration for the policy and therefore subject to excess line tax. ELANY’s bulletin had provided a grace period for producers to work with insurers to amend standard documentation to clarify the tax status of the fee and had provided a deadline for correction of January 1, 2026.

ELANY often receives policy documents that incorrectly label fees intended for: - MGAs - MGUs - Or other licensed intermediaries as “Policy” fees rather than producer or broker fees which are not subject to excess line tax.

Please see the attachment for more information.

Effective April 18, 2026, New Jersey updated Travel Agent definitions and licensing requirements for residents and nonresidents.  Limited lines travel insurance producer" means a: - Licensed MGA; - Licensed insurance producer, including a limited lines producer; or - Travel administrator.

"Travel administrator" means a person who directly or indirectly underwrites, collects charges, collateral, or premiums from, or adjusts or settles claims on New Jersey residents in connection with travel insurance.  The following persons are not considered travel administrators:

- Person working for a travel administrator, to the extent the person's activities are subject to the travel administrator's supervision and c ontrol - An insurance producer selling insurance or engaged in administrative and claims-related activities within the producer's license scope; - A travel retailer offering and disseminating travel insurance that is  registered under a limited lines travel insurance producer license; - An individual adjusting or settling claims in the individual's practice or employment as an attorney who does not collect charges or  premiums in connection with insurance coverage; or - A business entity that is affiliated with a licensed insurer while acting as a travel administrator for the affiliated insurer's direct and  assumed insurance business.

3\.   "Travel insurance": - Means insurance coverage for personal risks incident to planned travel, including: - Trip or event interruption or cancellation; - Loss of baggage or personal effects; - Damages to accommodations or rental vehicles; - Sickness, accident, disability, or death occurring during travel; - Emergency evacuation; - Repatriation of remains; or - Any other contractual obligations to indemnify or - Pay a specified amount to the traveler upon determinable contingencies related to travel, as approved by the Commissioner; and - Does not include: - Major medical plans that provide comprehensive medical protection for travelers with trips lasting longer than 6 months, including a person working overseas as an expatriate; or - Any other product requiring a specific insurance producer license.

4\.   Arrangements for repatriation of remains which are made as part of a preneed funeral arrangement or other preneed consultation through a state-registered mortuary that do not include any other coverages listed in (3) above are not considered travel insurance.

5\.   The Commissioner may issue a limited lines travel insurance producer license to an individual or a business entity. - Applicants must: - File an application with the Commissioner in the prescribed form and manner; and - Pay all applicable licensing fees. - A limited lines travel insurance producer must be licensed to sell,  solicit, or negotiate travel insurance through a licensed insurer. - No person may act as a limited lines travel insurance producer or  travel insurance retailer unless properly licensed or registered.

6\.   A travel retailer may offer and disseminate travel insurance under a limited lines travel insurance producer business entity license only if: - The travel retailer or limited lines travel insurance producer provides to the travel insurance purchasers: - Description of the material terms or the actual material terms of the insurance coverage; - Description of the claims filing process; - Description of the travel insurance policy review or cancellation process; and - The insurers' and limited lines travel insurance producer's  identity and contact information; - At the time of licensure, the limited lines travel insurance producer establishes and maintains a register of each travel retailer that offers travel insurance on the producer's behalf; - The limited lines travel insurance producer: - Certifies that the travel retailer registered complies with 18 USCA § 1033; - Designates an employee who is a licensed individual travel insurance producer as a designated responsible producer (DRP), responsible for compliance with the travel insurance laws and regulations applicable to the limited lines travel insurance producer and its registrants; - Requires the travel retailer's employees and authorized representatives who offer and disseminate travel insurance to complete a training program, which is subject to review and approval by the Commissioner, that contains adequate instructions on: - The types of insurance offered; - Ethical sales practices; and - Required disclosures to prospective customers; and - The DRP, president, secretary, treasurer, and any other officer or person who directs or controls the producer's insurance operations complies with the fingerprinting requirements applicable to insurance  producers in the limited lines travel insurance producer's resident  state.

To learn more, please use the following link. 

Posted December 19, 2025, Iowa posted a bulletin to address questions concerning the financial responsibility requirement, which requires each public adjuster and independent adjuster to demonstrate proper financial responsibility by filing a surety bond. Please see the attachment for more information.

Effective January 31, 2026, Colorado’s regulation around surplus lines insurance issued by non-admitted insurers will be in effect.

This regulation establishes standards regarding the placement of insurance by producers. This regulation also serves to protect Colorado insurance consumers, setting forth disclosure requirements for surplus lines insurance contracts.

Please see the attachment for more information.

Posted December 16, 2025, New York added two new companies to the list of Excess & Surplus lines (E&S) insurers, maintained by the Excess Line Association of New York (ELANY). Please see the attachment for more information.