Regulatory Updates

Effective March 4, 2025, District of Columbia company appointment renewal invoices will be available for payment from March 4, 2025, through May 31, 2025. The termination deadline is February 24, 2025. The cost is $25 per appointment per company. 

Effective January 9, 2025, Louisiana will start requiring applicants to renew all renewable lines of authority within the same license class in the same application. No partial renewals will be allowed.

Posted November 7, 2024, Oklahoma Insurance Department is requesting that all insurers who submit surplus lines policy and premium data for the year 2024, and going forward. To report that information to the Oklahoma Insurance Department via the SLIP system.  OK SLIP Please take a look at the attachment for more information. Attached also is an updated FAQ for Surplus Lines from the Oklahoma Insurance Department

Effective January 1, 2025, South Dakota adjusted two rules affecting continuing education: Please see the attachment for more information.

Effective January 1, 2025, California will require resident and nonresident licensees to complete the four-hour annuity training requirement. This requirement shall be part of, and not in addition to, the California resident licensee's continuing education requirement. Please see the attachment for more information as well as the links below.  - Resident - Nonresident

Effective January 1, 2025, Colorado will be transitioning to the SLIP platform. All policies, and endorsements on policies for Surplus Lines premium taxes shall be reported to the Colorado Division of Insurance using the SLIP platform:  SLIP Policies, or endorsements on policies effective before January 1, 2025, should continue to be reported to the Colorado Division of Insurance using the Colorado Surplus Lines Tax System. Colorado Surplus Lines Tax System Please see the attachment for more information.

Posted December 5, 2024, Utah Insurance Department issued a bulletin to provide guidance and reinforce the requirements for suitability in annuity transactions. Please see the attachment for more information.

The state clarified the following sections:

Effective December 3, 2024, New Mexico Securities Division authorizes for the year of 2025, that Brokers / Dealers can conduct audits of single-agent branch offices remotely. This shall remain in effect until December 31, 2025, unless extended or rescinded. Please see the attachment for more information.  To conduct an audit of single-agent branch offices remotely, the following conditions must be met:

Effective January 9th, 2025, Nebraska will update the following license classes Lines of Authority (LOA) descriptions: Insurance Producer, Producer Temporary, and Apprentice Temporary Insurance Producer The new LOA descriptions will be available for display and offered for applications electronically.

Effective December 13, 2024, Washington will allow Business Entities to process address change updates electronically. Additionally, existing individual address change processing rules will be updated.