Regulatory Updates

June 10, 2025, Puerto Rico is updating appointment records marked "Property & Casualty" in the Producer Database to distinguish "Property" appointments from "Casualty" appointments.

On June 10, 2025, Indiana issued a bulletin requiring third party administrators, pharmacy benefits managers, and insurance carriers to maintain key business information such as address and business owner data with the department by July 1 beginning this year, 2025, and every year moving forward.

On June 9, 2025, Iowa released a bulletin giving insurers and would-be licensees guidance on a new law that creates license requirements for independent adjusters, an optional license for staff adjusters, appraisers, and umpires. Please see the attachment for more information.

New Mexico has repealed a continuing education rule that would have required all producers who sell excepted benefit plans to complete two hours of specialized training by April 1, 2026. Please see the attachment for more information.

On June 6, 2025, the Connecticut Insurance Department posted seven insurance carriers' requested rate filings for the small group and individual health insurance markets in the state for the upcoming 2026 plan year. The average individual rate represents a 17.8% increase and the average small group rate would be a 13.1% increase.

Personal auto and residential property insurers selling more than $1 million in the state must supply data to the Texas Department of Insurance for the HelpInsure.com website. Responses to the TDI email notice for specific insurers are due July 11, 2025.

On June 5, 2025, California Department of Insurance officials posted a notice reminding education providers that, to be certified with the state, they have to submit an application and periodically renew their information, such as names, addresses, and qualifications of education providers.

Wyoming Department of Insurance officials have implemented a guaranteed issue period for Medicare beneficiaries who have Medicare Supplement policies. Beginning June 4, 2025, beneficiaries now have from their birthday until 63 days later to exchange their Supplement plan for an equivalent or lesser plan, and insurers must honor this guaranteed issue period.

On June 4, 2025, the New Hampshire Insurance Department issued a reminder that it's illegal to sign an insurance application as the "producer of record" if you haven't interacted with the consumer. The reminder arose out of consumer complaints to the department that stemmed from applications where the producer who signed the policy isn't the person who talked to the consumer throughout the sales process.

Please see the attachment for more information.

Effective January 1, 2025, California Department of Insurance has adopted the 2025 adjustments calculated by the NAIC. Under California Insurance Code, qualifying "commercial insureds" are exempt if they meet the threshold for: Net worth, Annual revenues, and Annual budgeted expenditures. Please see the below attachments for more information about these changes and a checklist for these exemptions.