Regulatory Updates

The world of insurance compliance regulation is ever-changing. But that’s no reason to fret. Keep up with regulatory updates here in our live feed. With relevant changes to licensing, appointments, continuing education rules, and more, you can take a proactive approach to maintaining your organization’s compliance requirements.

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June 07th, 2024
Effective:
July 01st, 2024
map-marker Kansas
Kansas Increases Fingerprint Fee
Effective July 1, 2024, Kansas is increasing the Fingerprint Fee from $50.00 to $60.00 in the Resident Licensing and Non-Resident Licensing No Home State applications for license class 3 Insurance Producer.
Pending
June 06th, 2024
Effective:
August 31st, 2024
map-marker Massachusetts
Massachusetts Announces 2024 Company Appointment Renewal Dates
On June 6, 2024, Massachusetts announced 2024 company appointment renewal dates. - Termination Deadline 07/14/2024 - Invoice Renewal Period 07/19/2024 - 08/31/2024
Pending
June 05th, 2024
Effective:
June 05th, 2024
map-marker Maryland
Maryland Issues Bulletin Summarizing Laws Enacted in 2024
On June 5, 2024, Maryland issued a bulletin summarizing all laws that have been enacted in 2024.  See attachment for full details. 
Effective
June 05th, 2024
Effective:
June 07th, 2024
map-marker South Carolina
South Carolina to Implement New Transaction Type to Process Designated Responsible Licensed Producer (DRLP) Updates
Effective June 7, 2024, South Carolina will implement a new transaction type to process designated responsible licensed producer (DRLP) updates.
Pending
June 03rd, 2024
Effective:
June 03rd, 2024
map-marker Virginia
Virginia Changing Payment Processing Method Related to Surplus Lines Reporting
Effective June 3, 2024, Virginia Bureau of Insurance moved its payment processing to J.P. Morgan Chase and its affiliated partner Paymentus.  To facilitate electronic payments, Virginia’s new Company Identification Number (0000408976) must be provided to your Accounts Payable Department.
Effective
May 31st, 2024
Effective:
August 01st, 2024
map-marker Louisiana
Louisiana Announces 2024 Agency Appointment Renewal Dates
On May 31, 2024, Louisiana announced the 2024 Agency Appointment Renewal dates. Termination Deadline: June 26, 2024 Companies will be billed for appointments that are active as of 06/26/2024. Invoice renewal period: July 1, 2024 - August 1, 2024
Pending
May 28th, 2024
Effective:
May 30th, 2024
map-marker Idaho
Idaho Implements New Transaction Type to Process Primary Name Updates
Effective May 30, 2024, a new transaction type will be implemented for Idaho to process individual and business entity primary name updates.
Pending
May 28th, 2024
Effective:
May 30th, 2024
map-marker South Carolina
South Carolina Implements New Transaction Type to Process Primary Name Updates
Effective May 30, 2024, a new transaction type will be implemented for South Carolina to process individual and business entity primary name updates.
Pending
May 24th, 2024
Effective:
May 24th, 2024
map-marker Massachusetts
Massachusetts Issues Bulletin Relate to Inducements, Rebates and Affiliated Entities
On May 24, 2024,  the Massachusetts Insurance Department issued a bulletin related to Inducements, Rebates and Affiliated Entities. See attachment for full details.
Effective
May 23rd, 2024
Effective:
July 01st, 2024
map-marker Indiana
Indiana Implements Annuity Suitability Requirements
Effective July 1, 2024, Indiana will implement new requirements related to suitability in annuity transactions. See attachment for full details.
Pending
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