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.

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October 14th, 2025
Effective:
October 14th, 2025
map-marker New Mexico
New Mexico PBM Licensing

Effective 14, 2025, New Mexico Pharmacy Benefits Manager's new and renewal applications will no longer be filed in SERFF.  New and renewal applications will be handled through the Company Licensing Bureau. The application requirements may be found on the Company Licensing Bureau’s webpage: https://www.osi.state.nm.us/en/insurance-professionals/company-licensing/applying-for-admission-applications/

Please see the attachment for more information.

Effective
October 14th, 2025
Effective:
November 14th, 2025
map-marker Massachusetts
Massachusetts Updates NUQ

Effective November 14, 2025, Massachusetts will remove the following state-specific question from Nonresident License and Nonresident Renewal applications.  - Are you legally blind?

Pending
October 13th, 2025
Effective:
October 01st, 2025
map-marker Connecticut
Connecticut Surplus Lines Posted Reminder of Diligent Effort Requirements

Posted October 10.2025, Connecticut** **sent a reminder to surplus lines brokers that the diligent effort requirement remains in effect (to obtain coverage from admitted insurers before using the surplus lines market), except when coverage is placed through an unaffiliated wholesale surplus lines broker. 

Under the general rule, a diligent effort is met if the coverage is on the Commissioner’s Exportable List or declined by three authorized insurers, with supporting documentation maintained for the policy term and one additional year. 

Brokers are no longer required to submit quarterly diligent effort filings via OPTins, but must retain all relevant documentation and provide it upon request. All surplus lines premium tax filings and payments must continue to be submitted electronically through OPTins on the quarterly due dates of February 15, May 15, August 15, and November 15. Please see the following attachment for more information.

Effective
October 09th, 2025
Effective:
November 14th, 2025
map-marker Kansas
Kansas Provisional Captive Insurance Company Display on PDB

Effective November 14, 2025, Kansas will display Provisional Captive Insurance Company on the Producer Database. The Provisional Captive Insurance Company type will be eligible for appointments. Please see the attachment for the list of eligible Line of Business (LOB).

Pending
October 09th, 2025
Effective:
November 25th, 2025
map-marker Oklahoma
Oklahoma 2025 Company Appointment Renewal Dates

Posted October 9, 2025, Oklahoma announces that company appointment renewal invoices will be available for payment from November 25, 2025, to December 31, 2025. The termination deadline is November 14, 2025. The amount is $30 per appointment. Please see the attachment for more information.

Pending
October 09th, 2025
Effective:
October 03rd, 2025
map-marker U.S. Virgin Islands
U.S. Virgin Islands Examination Policy Bulletin

Posted on October 3, 2025, the U.S. Virgin Islands published a bulletin detailing the examination policy, which covers: • Compliance standards • The timeframe for rescheduling after a failed attempt • The timeframe for obtaining a license upon passing

Please see the attachment for more information.

Effective
October 08th, 2025
Effective:
October 01st, 2025
map-marker North Carolina
North Carolina Requiring Resident and Nonresident Licensing with PBMs

Effective October 1, 2025, North Carolina updated resident and nonresident licensing rules requiring Pharmacy Benefits Managers (PBMs) to become licensed.  - A person or organization must obtain a license to operate as a pharmacy benefits manager. - To submit a complete application for initial or renewal PBM licensure, the following items must be filed in order: -  A transmittal form; - A completed pharmacy benefits application form; - Biographical form(s) completed by principal officers; - All of the PBM's organizational documents, including any articles of incorporation, articles of association, partnership agreement, trade name certificate, or trust agreement, any other applicable documents, and all amendments to these documents; - The bylaws, rules, regulations, or similar documents regulating the PBM's internal affairs; - Annual financial statements or reports for the two most recent years that prove that the applicant is solvent and any other information the Commissioner may require to review the applicant's current financial condition; - A general description of the business operations, including information on staffing levels and activities proposed in North Carolina and nationwide; - A power of attorney duly executed by the PBM, if not domiciled in North Carolina, appointing the Commissioner as attorney for the PBM in and for North Carolina, upon whom process in any legal action or proceeding against the PBM on a cause of action arising in North Carolina may be served; and - Evidence of maintenance of a fidelity bond, errors and omissions liability insurance, or other security. - The description discussed above must provide details setting forth the PBM's capability for providing a sufficient number of experienced and qualified personnel in the areas of claims processing and record keeping. - Each applicant must make copies of all contracts with insurers or other persons using the PBM's services available for inspection. - An applicant or PBM must notify the Commissioner of any material modification within 30 business days of a change. Pharmacy Benefit Manager - Initial application fee: $2,000.00 - Annual renewal fee: $1,500.00 For more information on PBM licensing, visit NC DOI

Effective
October 06th, 2025
Effective:
October 02nd, 2025
map-marker Georgia
Georgia to have FSLSO Conduct Compliance Review

Posted October 2, 2025, Georgia, has reached out to the Florida Surplus Lines Service Office (FSLSO) Slip+ team to conduct compliance review of Georgia-licensed surplus lines brokers. Compliance reviews will verify that:  - All policies, endorsements, and cancellations are properly filed.  - Premium taxes are accurately calculated, reported, and paid.  - Broker records align with Georgia surplus lines laws and regulations. Please see the attachment for more information.

Effective
October 06th, 2025
Effective:
January 06th, 2026
map-marker Alabama
Alabama Issues 2026 Company Appointment Renewal Dates

Alabama announces the company appointment renewal invoices will be available for payment from January 6, 2026 - March 1, 2026.  The termination deadline is December 31, 2025. The late renewal windows are as follows:

- March 2, 2026 - March 31, 2026  - April 1, 2026 - April 30, 2026  - May 1, 2026 - May 31, 2026 Please see the attachment for fee information.

Pending
October 06th, 2025
Effective:
October 03rd, 2025
map-marker New York
New York Updated Excess & Surplus Lines Insurers List October 6, 2025

Posted October 3, 2025, New York added a new company to 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
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