Regulatory Updates

Resident and nonresident producer licenses that had the LOAs previously separated will no longer see those LOAs (MA, PL, SU, and VE) and only see P&C. There will be no changes to LOAs listed on licenses that have only PL or SU LOAs.

A mandatory "disallowed expenses" data call for the 2021 calendar year was issued by Texas. This call applies to licensed companies that wrote premium for: fire, allied lines, private crop, farm owners multiple peril, homeowners multiple peril, commercial multiple peril, inland marine, medical malpractice, other general liability, products liability, private passenger automobile, commercial automobile, fidelity, or surety. The document must be filled out and returned by July 8.

Insurance Producers with 25 years or more of licensure and are 65 years or older are exempt. If a portion of this licensure was in a different state, appropriate documentation from that state must be provided. .

For one to be a resident of the state, one must maintain a principal home in New Mexico and cannot hold a resident license in a different state. If the OSI has reason to believe that this requirement is not being met, additional documentation will be required to prove residency.

Kansas noted that there some incorrect interpretations of KRS 304.39-060(6) regarding automobile policy. The statue says, " “Every insurance company when issuing an automobile policy to a resident of this Commonwealth must inform the buyer in writing in a form to be prescribed by the insurance commissioner of his or her right to reject the limitations of the tort rights and liabilities under this subtitle in the manner provided in subsections (4) and (7) of this section.” It was clarified that issuing means that the form must be delivered to the insured at 1.) the initial issuance of a new policy, but not at subsequent renewals of that policy; and 2.) at the addition of any drivers to a policy.

NIPR production will be down for maintenance from Friday evening, May 27th, until Saturday evening.

Effective July 2, 2022 NH will require a Third Party Administrator to include contact information for a designated agent in New Hampshire for service of process with certificate application for both residents and nonresidents.

Effective May 27, 2022, a DRLP must be entered for Resident License applications for a business entity. This does not apply for Car Rental, Credit, and Portable Electronics and the field should be left blank on the application.

NIPR is deleting all incomplete MYNIPR applications with tonight's release. As a result, these applications will need to be resubmitted.

This update will allow business entities to electronically update both their business and mailing physical addresses, email, and phone number.