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.
December 23rd , 2024
Effective:
January 02nd , 2025
January 02
Iowa
Iowa To Display Temporary Insurance Producer License Classes via PDB
Effective January 2, 2024, Iowa will start having displayed on the Producer Database, Temporary Insurance Producer.
This license class can tie to the following lines of authority: Life
- Accident & Health or Sickness
- Casualty
- Property
- Credit
- Surety
- Personal Lines
Released
December 23rd , 2024
Effective:
January 10th , 2025
January 10
Indiana
Indiana Retaliatory Fee Updates
Effective January 9, 2025, Indiana will update various retaliatory fees for Nonresident Licensing, Nonresident Renewal, Nonresident Adjuster licensing, and Nonresident Adjuster Renewal transaction types for various states: AL, AR, CA, CO, CT, GA, HI, IL, KY, MA, ME, MO, MN, MS, MT, NC, ND, NM, NV, PA, TN, VT, WY
Update: The new retaliatory fees will be effective January 10, 2025.
Effective
December 23rd , 2024
Effective:
Connecticut
Connecticut Business Entity Applications Changes
Effective February 14, 2025, Connecticut will require the National Producer Number within the application for all business entity applications.
Update: January 13, 2025, Connecticut has canceled these changes, and will update at a later date.
Pending
December 23rd , 2024
Effective:
March 01st , 2025
March 01
Connecticut
Connecticut Foreign Surplus Lines Report Filing
Posted December 17, 2024, Connecticut requires that each foreign eligible surplus lines insurer shall annually on or before the first day of March submit to the Commissioner by electronically filing with the National Association of Insurance Commissioners (NAIC) a report of its financial condition. These reports shall include a breakdown of the company’s Connecticut business showing premiums and losses by line.
Please take a look at the attachment for more information.
Effective
December 23rd , 2024
Effective:
January 01st , 2025
January 01
Oregon
Oregon Advises Filers NASAA Will Be Offline January 1-5, 2024
Posted December 20, 2024, Oregon Division of Financial Regulation (DFR) advises filers who use the North American Securities Administrators Association (NASAA) Electronic Filing Depository (EFD) that the system will be offline and unavailable to all filers and regulators on January 1, 2024 - January 5, 2024.
If your filing is due during those dates, DFR advises you to file before 9 p.m. Pacific Time December 31, 2024. Please use the following URL for more information [Outage of NASAA Electronic Filing](https://dfr.oregon.gov/news/news2024/Pages/20241220-prepare-for-NASAA-electronic-filing-outage.aspx)
Effective
December 23rd , 2024
Effective:
January 01st , 2025
January 01
New York
New York Foreign E&S Minimum Updates
Effective January 1, 2025, New York will require all foreign Excess and Surplus (E&S) insurers writing business in New York are required to maintain a minimum surplus to policyholders of $49,000,000. Please take a look at the attachment for more information.
Effective
December 20th , 2024
Effective:
March 31st , 2025
March 31
Wyoming
Wyoming 2025 Company Appointment Renewal
Effective February 1, 2025, Wyoming company appointment renewal invoices will be available for payment through March 31, 2025.
The last day to terminate an appointment is January 31, 2025. Please see the attachment for more information.
Effective
December 20th , 2024
Effective:
January 01st , 2025
January 01
Alaska
Alaska Establishes Standards For Data Security
Effective January 1, 2025, Alaska will establish standards for data security and notification requirements in case of a cybersecurity event.
Effective
December 20th , 2024
Effective:
March 03rd , 2025
March 03
North Dakota
North Dakota 2025 Company Appointment Renewal
Effective March 3, 2025, North Dakota company appointment renewal invoices will be available for payment electronically through April 30, 2025. The termination deadline is February 14, 2025.
Total Fee per Appointment - $10.00
Please see the attachment for more information.
Effective
December 20th , 2024
Effective:
January 01st , 2025
January 01
Utah
Utah Fingerprint Fee Update Resident Individual Licensing
Effective January 1, 2025, Utah will be updating its fingerprint fee from $28.25 to $27.00, for resident individual applicants for the offering license classes:
- Producer,
- Surplus Lines Producer,
- Independent Adjuster,
- Public Adjuster,
- Limited Line Producer Indiv,
- Reins Intermediary
- Third Party Administrator,
- Managing General Agent,
- Consultant
Effective
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analyzed
Our compliance experts have identified the update and analyzed it for impact on both the industry and AgentSync products.
pending
The time between the update's publication date and effective date.
effective
The date the update takes effect.
released
This means an AgentSync product was updated as a result of this change and the update is now live in our product(s).