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 24
Connecticut Connecticut announces that they will "continue to ensure every Connecticut citizen has access to safe and appropriate health care." They also noted that if their healthcare plan includes abortion coverage, the coverage will be maintained.
June 24
California California released their surplus lines export list. They noted that, after review, the list has not changed.
July 15
Pennsylvania This update is announcing that the Non-Uniform question will come into effect on July 15, 2022. Previously this was set to June 24, 2022.
June 22
Louisiana Effective August 1st, 2022, the verbiage for Self Storage Agents stating that a notice and hearing must occur before certain Commissioner actions. Additionally, an aggrieved party may now demand a hearing for both Self-Storage Agents and Portable Electronics Vendors.
June 22
South Carolina This playbook is meant to help securities professionals better prepare for upcoming changes to the securities industry CE program.
July 21
NASAA requests comments be submitted on their newly proposed model rules that would extend the validity period of certain exams. These are meant to align with recent FINRA changes (Rules 1240) that pertain to CE requirements. Comments are due by July 21st, 2022. Announcement attached.
July 06
Iowa Effective July 6, 2022, Iowa has deleted their monthly billing statement information. For Renewals, appointments that are terminated due to non payment are now able to get re-appointed via NIPR. For limited lines, rental car agent Iowa revised deadline for notifying the Division of terminated counter employee licensees and counter employee licensee name or address changes.
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.
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