Regulatory Updates

Posted September 18, 2025: Massachusetts posted the following bulletin, which implements the 2026 licensure of Pharmacy Benefit Managers ("PBMs”). Applicants seeking to operate as a PBM in the Commonwealth of Massachusetts on and after January 1, 2026, must apply no later than October 15, 2025.  If granted, the license will be valid for one year, expiring on December 31, 2026. Each Applicant must provide the information required in the attached Application. Please see the attachment for more information. 

Update September 30, 2025, AXIS SPECIALTY EUROPE SE (NAIC # AA1784130) is now in compliance and will remain active in SLIP+.

September 22, 2025, Florida’s Surplus Lines Service Office (FSLSO) issued a notice regarding the following surplus lines insurers being out of compliance.  - AXIS SPECIALTY EUROPE SE (NAIC # AA1784130)

FSLSO will be removing these carriers from its filing platform on October 1, 2025, if the filing requirement is not met. Please see the attachment for more information.

Effective September 20, 2025, Louisiana posted an amendment to Regulation 112. The purpose of this amendment is to incorporate the current edition of handbooks, guidelines, forms, and instructions adopted by the National Association of Insurance Commissioners (NAIC) and referenced in the Louisiana Insurance Code.

Please see the attachment for more information

On October 1, 2025, South Dakota will remove the limit on the number of continuing education credits an insurance producer can receive during a two-year period from courses sponsored by an insurance company. Please see the attachment for more information

On September 19, 2025, Washington released a prepublication draft for the rule on registering and identifying umpires in auto appraisals. The new law requires the Insurance Commissioner to register competent and disinterested umpires who will be identified to auto appraisers if they are unable to agree on an umpire to resolve their loss dispute. The comment period for the prepublication draft begins on Friday, September 19, and closes at 11:59 p.m. on September 28, 2025. Please send comments to rulesc@oic.wa.gov.

For more information on about the upcoming draft for this law, visit the following link R 2025-04

Posted September 19, 2025, New York removed a company from the list of Excess & Surplus lines (E&S) insurers, maintained by the Excess Line Association of New York (ELANY). Please see the attachment for more information.

Effective July 7, 2025, Nevada removed the following licensing requirements for a non resident Title agent. - The license application must include evidence that the title agent or escrow officer applicant - Is a resident of Nevada; or - Resides not more than 50 miles from the state border

Posted September 18, 2025, Georgia provided clarification on the citizenship affidavit notarization. Georgia will be reviewing any deficiency notices sent. For all resident and non-resident applications for all producers (individuals and business entities): - Online notaries will be accepted - Notaries can be from a state other than the resident state of the applicant - DocuSign is not accepted.  Please see the attachment for more information.

Effective November 15, 2025, Colorado has adopted the following amended regulation: 4-2-97 The purpose of this regulation is to provide the form and manner for a pharmacy benefit manager (PBM) to register annually with Colorado.

The North American Securities Administrators Association (NASAA) announced that there will be no changes to the Investment Adviser Registration Depository (IARD) system fees for 2026. The waiver of IARD system fees for state-registered investment adviser firms will continue through 2026, and the initial set-up and annual system fees will remain unchanged. Please click the following link for more information. https://www.nasaa.org/77387/nasaa-announces-2026-fee-schedule-investment-adviser-registration-depository/?qoid=current-headlines