Regulatory Updates

Posted January 22, 2025, Alaska updated its eligible surplus line insurers list. Alaska uses two statuses to identify eligible foreign surplus lines insurers: - White Listed: Foreign companies that meet the NRRA and domestic state requirements - Listing Approved: Alien companies not on the NAIC Quarterly Listing of Alien Insurers but approved by the division (carriers must apply for approval You may use the Alaska Company Search tool to check an insurer’s status. Please see the attachment for more information.

Posted January 21, 2025, New Mexico sent a reminder about invested adviser requirements for renewal. Renewal fees were due December 31, 2024, and The Annual Form ADV and Annual Financial Statements are due March 31, 2025. Please see the attachment for more information.

Posted January 17, 2025, Louisiana provides guidance via an Advisory Letter regarding “policy fees” being subject to premium tax. "Premium" means all sums charged, received, or deposited as consideration for the purchase or continuance of insurance for a stated term, and shall include any assessment, membership, policy, survey, inspection, service or similar fee or charge made by an insurer as a part of the consideration for the purchase or continuance of insurance. Please see the attachment for more information.

Posted January 17, 2025, Oklahoma posted a bulletin to inform and clarify all producers and insurers, about its anti-rebating statute. The practice of returning any portion of commissions in the securing and/or retaining insurance business, violates the unfair trade practice laws. Please see the link as follows for more information. Anti-Rebating Statute

Effective January 16, 2025, Delaware will implement a new transaction type to process Name Change (Demographics) updates to process individual and business entity primary name updates.

Effective January 17, 2025, Iowa will implement a new transaction type to process Name Change (Demographics) updates to process individual and business entity primary name updates.

Effective February 14, 2025, Rhode Island will allow the Title license class to be appointed and terminated electronically. The Rhode Island Insurance Division expects all active title licensee appointments to be submitted electronically by February 28, 2025.

Posted January 14, 2025, Maryland is requesting that all insurers, non-profit health service plans, and dental plan organizations authorized to issue insurance contracts that provide health insurance, life insurance, property insurance, or casualty insurance in Maryland; health maintenance organizations licensed to operate in Maryland; the Maryland Automobile Insurance Fund; the Joint Insurance Association; and premium finance companies.

Shall provide the contact information requested to the Maryland Insurance Administration by close of business on April 15, 2025. Please see the attachment for more information.

Effective January 15, 2025, Rhode Island will be updating approximately 76,000 Rhode Island appointment expiration dates from March 1, 2026, to January 31, 2026. All future 2025 appointments will automatically be set for January 31, 2026, going forward.

Update: Due to technical problems, these expiration dates will populate tomorrow (January 16, 2025)

Effective November 25, 2025, Rhode Island made the following fee change for residents and nonresidents.

Life Settlement Provider  - Old Fee - Initial license fee: $1,000.00 - Annual fee (filed with annual report): $1,000.00 - - New Fee - Initial license: $1,000.00 - Annual fee (filed with annual report): $500.00