Regulatory Updates

Effective October 1, 2025, Maryland added additional training requirements for residents and nonresidents for limited lines insurance producers holding credit. - Must complete a Commissioner-approved program of instruction that is: - Provided by an insurer that sells, solicits, or negotiates limited line credit insurance - Designed to provide a comprehensive and accurate explanation of the product - Is not subject to examination requirements. Please use the following link for more information: 

Posted May 23, 2025, New Jersey sent out a warning about a scam targeting licensed professionals to download malicious software. Please see the attachment for more information

Posted May 23, 2025, Louisiana provided information regarding their requirements for Appraisers and Umpires. Louisiana has required appraiser registrations since 2012 and started issuing umpire registrations beginning January 1, 2025. 

If the insured and the insurance company cannot agree on the actual cash value or amount of loss, either party can request an appraisal. Each side selects a competent, impartial appraiser within 20 days, and the two appraisers choose an impartial umpire. If they can't agree on an umpire within 15 days, a judge will appoint one. The appraisers assess the loss and, if they disagree, submit only their differences to the umpire. A decision agreed to by any two of the three (appraisers or umpire) determines the final value. Each party pays their own appraiser, and both share the cost of the umpire and appraisal equally. The state does not register appraisers or umpires for other purposes.

The state has more information about appraiser and umpire registrations at 

June 18, 2025 – Update – New York Business Entity initial licensing applications will be turned back on for processing electronically, effective July 1, 2025.

Effective May 23, 2025, New York will temporarily suspend initial business entity licensing transactions electronically. During this period, any submissions will be declined.

Effective January 1, 2026, Florida residents and nonresidents licensed as a pet insurance producer must be properly trained on the following: The insurer's pet insurance products' coverages and conditions, and the following topics: - Preexisting conditions and waiting periods; - The differences between pet insurance and non-insurance wellness programs - Chronic conditions, congenital anomalies / disorders, hereditary disorders, and the way pet insurance policies address those conditions - Rating, underwriting, renewal, and other administrative topics.

Posted May 20, 2025, Kentucky issued an Advisory Opinion providing guidance on issues and questions raised in the aftermath of the storms that swept through the state from May 16 to May 17, 2025. Please see the attachment for more information.

Effective April 15, 2025, Colorado revised the Diligent Effort Affidavit Form. The new affidavit form can be found on the Division's website as well as on the SLAS Website. 

Before any policy of insurance can be placed by an Individual Surplus Line Broker (Producing Agent) with a nonadmitted insurer, Colorado statutes and regulations require a determination be made that the policy can not be insured with a Colorado admitted insurer. This determination is known as the diligent search. Please see the attachment below for more information.

Effective July 1, 2025, Iowa will offer an Adjuster license for individuals and business entities. Both residents and nonresidents may apply for these licenses electronically. The fee is $50 for an initial license and $50 for renewal. Please see the attachment for more information. 

Effective July 11, 2025, Maine will revise its appointment business rules to reduce the allowable backdating period for effective dates from 20 days to 15 days.

Effective May 19, 2025, Vermont has adopted rules to establish the licensing application, financial, and reporting requirements for Pharmacy Benefit Managers (PBMs). 

Please use the link below for more information.  VT PBM