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.
September 25th , 2024
Effective:
September 16th , 2024
September 16
Wyoming
Wyoming Requesting Additional Information Regarding Non-Admitted Insurance/Insurers
Effective September 16, 2024, Wyoming requests additional information regarding non-admitted insurance written in 2024 and going forward. Surplus Lines Brokers that transact business with non-admitted insurers where Wyoming is the home state are required to file tax reports with the Wyoming Department of Insurance through the Surplus Lines Information Portal (SLIP)
SLIP Website -
Please see the attachment for more information.
Effective
September 24th , 2024
Effective:
October 10th , 2024
October 10
Kentucky
Kentucky Adds Appointment and Termination Electronic Support for Self-Service Storage Space
Effective October 10, 2024, Kentucky will add Self-Service Storage Space to be processed electronically for Appointments and Terminations.
Effective
September 24th , 2024
Effective:
October 09th , 2024
October 09
Alaska
Alaska Hosting A Public Hearing For Insureds Are Unable To Secure Coverage (Surplus Lines)
Posted September 18, 2024, Alaska Division of Insurance will hold a public hearing to solicit public testimony regarding the types of insurance for which insureds generally cannot secure coverage from admitted insurers so that the director may issue an order, which will update the surplus lines placement list.
Any interested person may comment on the proposed action at a hearing on October 9, 2024. Please see the attachment for more information.
Effective
September 24th , 2024
Effective:
January 02nd , 2025
January 02
Illinois
Illinois Company Appointment Renewal 2024
Illinois announces its company appointment renewal period to be November 5, 2024 - January 2, 2024.
Effective
September 24th , 2024
Effective:
December 16th , 2024
December 16
Maine
Maine Process Primary Name Updates
Updated November 6, 2024. The new effective date is December 13, 2024
Updated December 5, 2024. The new effective date is December 16, 2024
Effective November 15, 2024, Maine will begin offering a new transaction type to process individual and business entity primary name updates.
With this change, Maine isn't allowing the following license classes to submit primary name updates. Click below for the list:
Pending
September 24th , 2024
Effective:
September 10th , 2024
September 10
Florida
Surplus Lines Premium Tax Discounts
Effective September 10, 2024, Florida added the following for filing of Surplus Lines forms. Each surplus lines agent subject to paying the premium tax must provide discounts for certain policies with an effective date between October 1, 2024 and September 30, 2025, and must file information regarding these deductions on a quarterly basis.
Effective
September 19th , 2024
Effective:
September 19th , 2024
September 19
N/A
NASAA Announces No Changes To IARD System Fees For 2025
The North American Securities Administrators Association (NASAA) announced that there will be no changes to the Investment Adviser Registration Depository (IARD) system fees for 2025. The waiver of IARD system fees for state-registered investment adviser firms will continue through 2025, and the initial set-up and annual system fees will remain unchanged. Please click the following link for more information.
Effective
September 19th , 2024
Effective:
October 29th , 2024
October 29
Arkansas
Arkansas Hosts Public Hearing Adopting New Proposal
Posted on September 18, 2024, Arkansas Insurance Department will host a public hearing on October 29, 2024, at 10 AM. The Department is considering adopting a new proposal granting expedited licensure for military service members, veterans, and spouses. Please see the attachment for more information.
Effective
September 17th , 2024
Effective:
September 17th , 2024
September 17
Idaho
Idaho to Implement New Transaction Types to Process DRLP Changes
Effective September 17, 2024, Idaho implemented new transaction types to process Designated Responsible Licensed Producers (DRLP).
Pending
September 16th , 2024
Effective:
December 26th , 2024
December 26
N/A
FINRA Proposes Rule Change Form U4
Effective December 26, 2024, FINRA proposes a rule change to amend Form U4 by adding a new RSL question. The new question would require member firms to indicate whether a non-registered location identified on Form U4 as a private residence is an RSL, by responding “Yes” or “No”. Please see the attachment for more information.
Effective
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analyzed
Our compliance experts have identified the update and analyzed it for impact on both the industry and AgentSync products.
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).