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.
June 22
Illinois The June cutoff is set for 4:30pm CST on June 22, 2022. Filings after this time will be part of July activity.
June 17
Vermont Limited lines refers to a licensed MGA or TPA, a licensed producer (including limited lines producer), and a travel administrator. This announcement then further defines travel admins and travels insurance.
June 17
Kentucky Kentucky releases legislative changes (attached). One to highlight is An Act Relating to the Issuance and Renewal of Occupational Licenses to Military Spouses. An administrative agency is required to issue a temporary or regular license to the spouse of someone currently in the armed forces. The spouse will not need to pay fees if they meet the requirements. Previously, fees were not waived.
June 16
South Carolina The following are exempt from CE: Producers licensed for limited lines, nonresidents who met their home state's CE requirements, and licensees that are 65 years old and have been licensed for 25 years.
June 16
Idaho Surplus Lines premium tax must be paid by check to the Idaho Department of Insurance. The stamping fee must be paid to the Surplus Lines Association of Idaho.
June 16
Florida Florida announces that a fingerprint fee is no longer required and the fingerprints must be processed in compliance with FL ST § 624.34. This will then be used to investigate if the applicant is qualified.
June 16
Maryland This announcement is reminding Public Adjusters of laws that are already in effect, but highlights specific provisions.
June 16
New Mexico Effective today, PO boxes will no longer be allowed as business addresses. Applicants with no resident license or a state code change that are updating their addresses will be deferred to the state to review.
August 05
Mississippi Effective date of August 5, 2022, has been announced. Mississippi is converting the Insurance Producer with a Travel LOA to a license class of Limited Lines Travel. A Limited Lines business entity must provide one DRLP that is actively licensed as a Limited Lines Travel Insurance Producer, or Producer with Property and Casualty or Personal Lines.
June 15
New Mexico Effective June 15, 2022, the NMRLD MyLicense e-Government website will no longer work with internet explorer. They encourage users to setup Microsoft Edge to maintain access.
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