Regulatory Updates

Effective October 17, 2025, Michigan added a condition defining when an individual resident or nonresident producer license is not required. A person who sells travel or auto-related insurance connected with and incidental to any of the following: - A motor vehicle rental agreement not exceeding 90 days; or - The sharing of a motor vehicle under a car-sharing agreement, as defined in the Peer-to-Peer Car Sharing Program Act

Effective March 14, 2025, District of Columbia will be updating the renewal period for all license classes from 60 days before the license expiration date, to 90 days before the license expiration date.

Effective January 1, 2025, Pennsylvania adjusts the minimum qualifying amounts for an Exempt Commercial Purchaser effective January 1, 2025. Please see the attachment for more information.

Posted January 22, 2025, New York (Excess Line Association of New York (ELANY), sent a reminder about the need to file a 2024 premium tax statement electronically on or before March 17, 2025. All licensed excess line brokers must file a premium tax statement even if no business was placed under that license. For instructions on how to prepare for and complete an excess line premium tax statement, please view the ELANY educational video, please see the attachment for more information.

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.