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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January 23rd, 2025
Effective:
January 01st, 2025
map-marker Pennsylvania
Pennsylvania Adjusts Minimum Amount for Exempt Commercial Purchaser
Effective January 1, 2025, Pennsylvania adjusts the minimum qualifying amounts for an Exempt Commercial Purchaser effective January 1, 2025. Please see the attachment for more information.
Effective
January 23rd, 2025
Effective:
March 17th, 2025
map-marker New York
New York Sends a Reminder About Filing 2024 Premium Tax Statements
Posted January 22, 2025, New York (Excess Line Association of New York (ELANY), sent a reminder about the need to file a 2024 premium tax statement electronically on or before March 17, 2025. All licensed excess line brokers must file a premium tax statement even if no business was placed under that license. For instructions on how to prepare for and complete an excess line premium tax statement, please view the [ELANY educational video](https://www.elany.org/content/media/403.mp4), please see the attachment for more information.
Effective
January 23rd, 2025
Effective:
January 22nd, 2025
map-marker Alaska
Alaska Updates Eligible Surplus Line Insurers List
Posted January 22, 2025, Alaska updated its eligible surplus line insurers list. Alaska uses two statuses to identify eligible foreign surplus lines insurers: - White Listed: Foreign companies that meet the NRRA and domestic state requirements - Listing Approved: Alien companies not on the NAIC Quarterly Listing of Alien Insurers but approved by the division (carriers must apply for approval You may use the [Alaska Company Search tool](https://sbs.naic.org/solar-external-lookup/) to check an insurer’s status. Please see the attachment for more information.
Effective
January 22nd, 2025
Effective:
January 21st, 2025
map-marker New Mexico
New Mexico Invested Adviser Requirements for Renewal
Posted January 21, 2025, New Mexico sent a reminder about invested adviser requirements for renewal. Renewal fees were due December 31, 2024, and The Annual Form ADV and Annual Financial Statements are due March 31, 2025. Please see the attachment for more information.
Effective
January 22nd, 2025
Effective:
January 17th, 2025
map-marker Louisiana
Louisiana Provides Guidance on Policy Fees of Surplus Lines Insurance Policies
Posted January 17, 2025, Louisiana provides guidance via an Advisory Letter regarding “policy fees” being subject to premium tax. "Premium" means all sums charged, received, or deposited as consideration for the purchase or continuance of insurance for a stated term, and shall include any assessment, membership, policy, survey, inspection, service or similar fee or charge made by an insurer as a part of the consideration for the purchase or continuance of insurance. Please see the attachment for more information.
Effective
January 17th, 2025
Effective:
January 17th, 2025
map-marker Oklahoma
Oklahoma Anti-Rebating Statute
Posted January 17, 2025, Oklahoma posted a bulletin to inform and clarify all producers and insurers, about its anti-rebating statute. The practice of returning any portion of commissions in the securing and/or retaining insurance business, violates the unfair trade practice laws. Please see the link as follows for more information. [Anti-Rebating Statute](https://www.oid.ok.gov/bulletin-no-2025-01/)
Effective
January 16th, 2025
Effective:
January 16th, 2025
map-marker Delaware
Delaware Implements New Transaction for Primary Name Updates
Effective January 16, 2025, Delaware will implement a new transaction type to process Name Change (Demographics) updates to process individual and business entity primary name updates.
Pending
January 16th, 2025
Effective:
January 17th, 2025
map-marker Iowa
Iowa Implements New Transaction for Primary Name Updates
Effective January 17, 2025, Iowa will implement a new transaction type to process Name Change (Demographics) updates to process individual and business entity primary name updates.
Pending
January 14th, 2025
Effective:
February 14th, 2025
map-marker Rhode Island
Rhode Island Title Appointment and Termination Processing Electronically
Effective February 14, 2025, Rhode Island will allow the Title license class to be appointed and terminated electronically. The Rhode Island Insurance Division expects all active title licensee appointments to be submitted electronically by February 28, 2025.
Effective
January 14th, 2025
Effective:
January 14th, 2025
map-marker Maryland
Maryland Disaster Contact Information Request
Posted January 14, 2025, Maryland is requesting that all insurers, non-profit health service plans, and dental plan organizations authorized to issue insurance contracts that provide health insurance, life insurance, property insurance, or casualty insurance in Maryland; health maintenance organizations licensed to operate in Maryland; the Maryland Automobile Insurance Fund; the Joint Insurance Association; and premium finance companies. Shall provide the contact information requested to the Maryland Insurance Administration by close of business on April 15, 2025. Please see the attachment for more information.
Effective
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Disclaimer - AgentSync does not warrant to the completeness or accuracy of the information provided in this database. You are responsible for ensuring the accuracy and totality of all representations, assumptions, information and data provided by AgentSync to you in this database. The information in this database should not be construed as legal, financial, or other professional advice, and AgentSync is not responsible for any harm you sustain by relying on the information provided herein. You acknowledge and agree that the use of this information is at your own risk. You should always consult with the applicable state and federal regulatory authority to confirm the accuracy of any of the information provided in this database.
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pending
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effective
The date the update takes effect.
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This means an AgentSync product was updated as a result of this change and the update is now live in our product(s).

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