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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January 02nd, 2025
Effective:
January 01st, 2025
map-marker Alaska
Alaska Pharmacy Benefits Managers Register Changes
Effective January 1, 2025, Alaska posted a bulletin explaining how Pharmacy Benefits Managers need to be registered. The PBM registration form can be found on the link below.  Alaska also speaks on this bulletin about upcoming regulations coming out in two packages for public comment early in 2025.  - The first package addresses registration requirements specific to pharmacy benefits managers (PBM).  - The second package is specific to PBM claims, grievances, activities and appeals
Effective
December 30th, 2025
Effective:
December 18th, 2024
N/A
NASAA Amends Examination Requirements
NASAA on December 18, 2024, amended the model rules for examination requirements for: Investment Adviser Representatives and Broker-Dealer Agents. Please see the attachment for more information. 
Effective
December 30th, 2025
Effective:
December 24th, 2024
map-marker New York
New York Added A New Company For Excess & Surplus Lines Insurers
Posted December 24, 2024, 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
December 26th, 2024
Effective:
January 01st, 2025
map-marker Oklahoma
Oklahoma Offering Exams and Study Manuals In Spanish
Effective January 1, 2025, Oklahoma will offer Insurance Producer and Adjuster licensing exams in Spanish, including the Kaplan Financial exam study manuals. Please see the following attachment for more information.
Effective
December 23rd, 2024
Effective:
January 02nd, 2025
map-marker 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
map-marker 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:
map-marker 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
map-marker 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
map-marker 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
map-marker 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
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pending
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effective
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released
This means an AgentSync product was updated as a result of this change and the update is now live in our product(s).

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