Regulatory Updates

NASAA provides an updated version of the IAR CE Member Adoption list on its website.

This publication is Louisiana publishing their intent to implement a new regulation. The purpose of this regulation is to establish procedures for governing the institution of administrative and agency proceedings resulting in administrative action with respect to a license.

California is removing Non-Uniform questions related to Surplus and Special lines. This will apply to the individual entity type. A business rule is being added stating the required bond needing to be on file with the state in order for the license request to be approved. The questions to be removed asked about the bonds existence. Effective Date not yet announced.

West Virginia announces its company appointment renewal period to be June 6th-August 31st.

In addition to the basic renewal process and payment of renewal fees, New Mexico is requiring additional filings by March 31st. If the deadline is not met, a suspension and revocation of the license is possible. The form will need to be amended annually. Failure to complete all necessary filings may lead to license suspension and revocation. See the attachment for information on how to file.

Hawaii announces a new timeline for completion of Continued Education courses. All active resident PROs (new or existing) must complete CE credit requirements before their renewal date. Additionally, if a new line of authority is added to a PRO's active license, the licensee must complete all required CE credit hours.

The MVPD Appraiser license will be moved to the non-adjuster license class. All Applicants must apply through the Nonresident Licensing, Nonresident Renewals, Nonresident Licensing No Home State, or Nonresident Renewal No Home State applications. All other applications will not be accepted.

North Dakota will use PSI as their exam vendor.

North Dakota Insurance Department is now contracted with PSI Services LLC (PSI) for the examination program. The goal of this partnership is to provide a process for examination and licensing.

New Mexico has reviewed the NOPR and the proposed replacement rules. The outcome of the review and proposed changes regarding suitability in annuity transactions are outlined in the state announcement attached in the expanded view.