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.
July 24th , 2024
Effective:
August 15th , 2024
August 15
Oklahoma
Oklahoma Adopting Amendments Related to the Uniform Securities Act of 2004
On July 24, 2024, Oklahoma issued an order adopting amendments related to the Uniform Securities Act of 2004. Please see the attachment for the details of the adopted amendments.
Effective
July 22nd , 2024
Effective:
July 17th , 2024
July 17
N/A
FINRA Membership Application Programs (MAP)
On July 17, 2024, FINRA published three new tools to help firms in the process of filling a new or continuing membership application. New Membership Application Programs (MAP).
Effective
July 22nd , 2024
Effective:
August 02nd , 2024
August 02
Ohio
Ohio Requested Feedback on Proposed Changes Around CE
On July 19, 2024, Ohio requested feedback on proposed changes related to the following:
- Agent continuing education
- Qualifications of continuing education courses
- Standards for continuing education providers
- Agent pre-licensing education
Please review the attachments for full details. Email ecomment@insurance.ohio.gov to submit your comments.
Effective
July 22nd , 2024
Effective:
June 21st , 2024
June 21
Hawaii
Hawaii Makes Resident and Nonresident Reinsurance Intermediary-Manager and TPA Changes
On July 19, 2024, Hawaii made changes to the requirements that were effective on June 21, 2024 for resident and nonresident reinsurance intermediary-manager and third-party administrator licenses.
The Commissioner may require a reinsurance intermediary-manager to provide any report required by the Commissioner.
Before a Third-Party Administrator license is issued, the administrator must file with the Commissioner and maintain a $100,000 surety bond for the first licensing biennial, and at least $300,000 for every subsequent license renewal.
Effective
July 22nd , 2024
Effective:
July 19th , 2024
July 19
Tennessee
Tennessee Implements New Transaction Types to Process Name Change Updates
Effective July 19, 2024, Tennessee is implementing a new transaction type to process Name Change (Demographics) updates via the NIPR Gateway.
Pending
July 19th , 2024
Effective:
May 28th , 2024
May 28
Rhode Island
Rhode Island Makes Resident and Nonresident Adjuster Licenses
Effective May 28, 2024, Rhode Island Department of Insurance made the following changes for residents and nonresident adjuster licenses.
Effective
July 19th , 2024
Effective:
July 18th , 2024
July 18
N/A
FINRA Enhancements for Initial Submissions
On July 18, 2024, FINRA implemented Form BR functionality enhancements for initial submissions. Please see the attachment for more information.
Effective
July 17th , 2024
Effective:
January 01st , 2025
January 01
Washington
Washington Stamping Fee
On July 9, 2024, Washington posted a bulletin to increase the stamping fee from 0.10% (.001) to 0.30% (.003), effective January 1, 2025.
The new 0.30% stamping fee will apply to all policies with an effective date of January 1, 2025, or after, as well as endorsements on those policies. Please see the attachment for more information
Effective
July 16th , 2024
Effective:
July 12th , 2024
July 12
Vermont
Vermont Bulletin Authorizing Catastrophe Adjusters and Appraisers Due To Recent Storms
On July 12, 2024, Vermont issued a bulletin authorizing insurers to use Catastrophe Adjusters and Appraisers due to recent storms. This authorization is effective July 12, 2024, for a period of ninety (90) days. Please see the attachment for more information.
Effective
July 16th , 2024
Effective:
July 15th , 2024
July 15
N/A
FINRA Enhancing SRO Fees & Setting Schedule Document
On July 15, 2024, FINRA added a new column to SRO Fees & Setting Schedules to indicate Residential Supervisory Locations (RSLs). Please see the attachment for more information.
Information Link
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).