Regulatory Updates

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.

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. 

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

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 February 1, 2025, Wyoming company appointment renewal invoices will be available for payment through March 31, 2025.

The last day to terminate an appointment is January 31, 2025. Please see the attachment for more information. 

Effective January 1, 2025, Alaska will establish standards for data security and notification requirements in case of a cybersecurity event.

Effective March 3, 2025, North Dakota company appointment renewal invoices will be available for payment electronically through April 30, 2025. The termination deadline is February 14, 2025. Total Fee per Appointment - $10.00 Please see the attachment for more information. 

Effective January 1, 2025, Utah will be updating its fingerprint fee from $28.25 to $27.00, for resident individual applicants for the offering license classes: - Producer, - Surplus Lines Producer, - Independent Adjuster, - Public Adjuster, - Limited Line Producer Indiv, - Reins Intermediary - Third Party Administrator, - Managing General Agent, - Consultant

Effective February 14, 2025, Nevada will implement revised licensing rules for Resident and Nonresident Adjusters and Producers. If applications do not adhere to these rules, they will be automatically rejected. The updates are as follows:  Licensing Rule Changes  - Producers with Property and/or Casualty LOAs: Will be ineligible to apply for Adjuster licenses (Independent, Public, Company, or Staff Adjuster).  - Adjusters with Property and/or Casualty LOAs: Will be restricted from applying for Producer licenses with Property and/or Casualty LOAs.  Nevada is also taking steps to update Adjuster Business Rules that align with the latest Designated Home State (DHS) standardized template.

Effective February 14, 2025, Rhode Island will update their amendment fee (LOA addition) from $50 to $0. This change is for Business Entities and individuals for: Resident, Nonresident, and No Home State applications. As well as Nonresident Adjusters applications for individuals.