Regulatory Updates

On October 8, 2022 Maryland will be adopting the best interest standard and will require new training for any producers involved in the sales of annuities,.

Beginning on October 1, 2022, Kansas will offer a Pharmacy Benefit Manager License Class for resident licensing, nonresident licensing, resident licensing renewal, nonresident licensing renewal, no home state licensing, and no home state renewals

Beginning January 1, 2023, Hawaii will amend its training requirements to include a 4 credit training course and an additional one credit course.

New York's request to reduce the stamping fee to 0.15% has been approved and will take effect on all excess lines policies that begin on or after January 1, 2023.

NCDOI is requiring data regarding nonfleet private vehicle damage and residential property from companies who issued Consent to Rate policies from January 1, 2022 - June 30, 2022. Data should be submitted by October 4, 2022.

Effective August 4, 2022, North Caroline updated the appointment fee from $10 to $11 per appointment.

Louisiana will be amending Rule 10 of Continuing Education. The amendment will include removing the first renewal exemption for CE pre licensing, Required information for CE credit, required data for CE renewal, accident and health language, and other technical changes.

Effective January 1, 2023, North Carolina will decrease its stamping fee from 0.4% to 0.3%.

Previously the Forgot Password process had been turned off for maintenance. The process will now include an email to the email address on record with a verification code to be entered in the MyProfile section.

Effective September 1, 2022, the license fee for Utilization Review License will update from $3,000 to $6,000. Connecticut will also be adding the LOA of Third Party Administrator Registration.