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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August 19th, 2024
Effective:
January 24th, 2025
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IARD Annual Renewal Process 2025
On August 16, 2024, IARD released information about the annual renewal process for 2025. Please see the attachment for the calendar. Please use the hyperlink below for more information. [IARD Renewal Program](https://www.iard.com/renewal-program)
Effective
August 16th, 2024
Effective:
October 01st, 2024
map-marker Maryland
Maryland Adds Requirements For Resident and Nonresident Limited Lines Credit Insurance Producer
Effective October 1, 2024, Maryland added requirements for resident and nonresident limited lines credit insurance producer applicants needing to finish a Commissioner-approved course led by an insurer that sells, solicits, or negotiates limited line credit insurance before being licensed. 
Effective
August 14th, 2024
Effective:
August 16th, 2024
map-marker District of Columbia
District of Columbia to Implement New Transaction Types to Process DRLP Changes and Primary Name Updates
Effective August 9, 2024, District of Columbia will implement new transaction types to process Designated Responsible Licensed Producer (DRLP) and Primary Name Change (Demographics) updates. 
Pending
August 14th, 2024
Effective:
August 28th, 2024
map-marker Missouri
Missouri Updates Continuing Education Exemption Requirements
Effective August 28, 2024, Missouri has updated the Continuing Education exemption for life producers who only sell funeral or burial expenses. The exemption now applies to producers whose written agreements with the insurer limits them to policies or annuities for funeral or burial expenses with an initial face amount of $20,000 or less, an increase from the previous limit of $15,000. Please see attached for more details.
Effective
August 13th, 2024
Effective:
January 01st, 2025
map-marker Rhode Island
Rhode Island Appointment and Termination Requirements For Residents and Nonresidents
Effective January 1, 2025, Rhode Island made updates around appointment renewals, termination, and appointment requirements for resident and nonresident producers. Please see the attachments for more information. Update: Please see the link for FAQ by the state __
Released
August 09th, 2024
Effective:
August 09th, 2024
map-marker West Virginia
West Virginia to Implement New Transaction Types to Process DRLP Changes and Primary Name Updates
Effective August 9, 2024, West Virginia will implement new transaction types to process Designated Responsible Licensed Producer (DRLP) and Primary Name Change (Demographics) updates. 
Pending
August 08th, 2024
Effective:
August 07th, 2024
map-marker Arizona
Arizona to Implement New Transaction Types to Process DRLP Changes and Primary Name Updates
Effective August 7, 2024, Arizona will implement new transaction types to process Designated Responsible Licensed Producer (DRLP) and Primary Name Change (Demographics) updates. 
Pending
August 07th, 2024
Effective:
October 01st, 2024
map-marker Maryland
Maryland Increase Maximum Civil Penalties For Violations of Certain Insurance Laws
On August 7, 2024, Maryland Insurance Administration posted a bulletin to notify insurance producers and public adjusters that 2024 Maryland laws would increase the maximum civil penalties that the Administration may impose for certain statutory violations. These changes become effective on October 1, 2024. Please see the attachment for more information.
Effective
August 07th, 2024
Effective:
July 01st, 2024
map-marker Utah
Utah Revised Language In Multiple Sections For Residents and Nonresidents
Effective July 1, 2024, Utah has revised the language in the following sections of their code for residents and nonresidents.  See attachments for full details. - Fee Summary - Viatical Settlements/Life Settlement: General Requirements - Appointment Renewals - Navigator General Requirements
Effective
August 06th, 2024
Effective:
August 08th, 2024
map-marker Hawaii
Hawaii Terminating Appointments Issued By Mistake
Effective ~~August 7, 2024~~, Hawaii will be terminating 4,100 Hawaii carrier appointments. It was discovered that appointments were migrated from a legacy system giving producers lines of authority they've never held.  Update: August 8, 2024 - The update that Hawaii planned to make on August 7, 2024, is now planned for August 8, 2024.
Effective
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analyzed
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pending
The time between the update's publication date and effective date.
effective
The date the update takes effect.
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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