Regulatory Updates

Effective March 9, 2025, Florida clarified the discount requirement applying to surplus lines policies that provide coverage for 12 months filed between October 1, 2024, and September 30, 2025. Please use the following link for more information.  Premium Tax Discounts

Posted March 18, 2025, Hawaii's Insurance Division has issued a bulletin regarding the 1st Quarter 2025 Surplus Lines Premium Tax Statement and Payment, due by May 15, 2025. The bulletin notes that Form 104 and Form 104C have been updated to improve efficiencies. Please refer to the attached document for more details.

Posted March 19, 2025, Kentucky's Insurance Commissioner is permitting temporary registration for unlicensed emergency adjusters to operate in the following counties due to the storms on March 15, 2025: - Daviess - Jefferson - Oldham Please refer to the attached document for further details.

Effective January 17, 2025, Arkansas will implement a new transaction type to process individual primary name updates

Effective January 17, 2025, U.S. Virgin Islands will implement a new transaction type to process individual primary name updates

Posted March 14, 2025, Pennsylvania Surplus Lines Association (PSLA) posted a bulletin reminding that the following fields have been eliminated on the affidavit effective December 1, 2024. Please see attached for more information. - Location of Risk – Street Address Only - Amount of Insurance – Property Amount - Amount of Insurance – Casualty Amount

Effective June 6, 2025, West Virginia appointment renewal invoices will be available for payment from June 6, 2025, through August 31, 2025. The termination deadline is May 31, 2025. The West Virginia state appointment renewal fee is $25.00 per individual per company. Please see the attachment for more information.

Effective March 13, 2025, Texas State Securities Board adopted rules to recognize:  - SEC Regulation Best Interest - SEC Marketing Rule by Reference - FINRA Rules on Residential Supervisory Locations (RSLs) - FINRA Remote Inspections Pilot Program (RIPP) - Examination Validity Extension Programs (EVEP) - Maintaining Qualifications Program (MQP) Please use the following link for more information. Texas State Securities Board Rules

Posted March 18, 2025, Michigan Department of Licensing and Regulatory Affairs adopted rules to implement the Examination Validity Extension Programs (EVEP) and the Maintaining Qualifications Program (MQP) for agents and investment adviser representatives. The EVEP and MQP programs allow eligible agents and investment adviser representatives to extend the validity of their qualifications for up to five years after leaving employment with a firm. Please see attached for more information.

Effective April 11, 2025, Florida will begin displaying the Business Phone Number within the Producer Database.