Regulatory Updates

Effective October 4, 2024, Virgin Islands will turn off the resident renewal process for electronic applications. Any transaction submitted will be declined until processing resumes. Update: October 9, 2024, Virgin Islands turned on the system for electronically processing applications as a resident renewal

The 2025 Wisconsin appointment renewal dates are January 6, 2025 – March 15, 2025 The termination deadline is December 31, 2024. Renewal Fees: Resident - $16 Nonresident - $30

On September 24, 2024, Georgia posted a bulletin indicating Governor Brian Kemp issued a State of Emergency due to the effects caused by Hurricane Helene.

In the event of a declared disaster or catastrophe, an insurer, or employer who is a licensed adjuster in this state, or is a regular employer of insurance adjusters in this state may request emergency disaster adjuster status for Georgia Registered Staff Adjusters, Out-of-State Staff Adjusters, or Out-of-State Licensees. Please see both attachments for more information.

Effective September 20, 2024, Louisiana amended training requirements for producers who transact annuity products. Producers who hold a life line of authority and who sell annuities must complete the course: - By 3/20/2025, if already licensed prior to 9/20/2024; or - Before selling annuities, if the producer was licensed on or after 9/20/2024. These changes also require how these classes must be taken, whether in the classroom or self-study and what topics are and are not allowed to be discussed during the course. Please see the attachment for more information.

Effective April 1, 2025, New Mexico is adopting changes to adjuster licensing requirements for nonresidents. Please see the attachment for more information.

Oklahoma announces the company appointment renewal invoices will be available for payment from November 25, 2024 – January 2, 2025. The termination deadline is November 15, 2024. Please see the attachment for more information.

Update: Posted November 14, 2024, The invoice payment date will be available for payment from November 25, 2024 – December 31, 2024.

Effective August 30, 2024, Missouri revised the annuity training requirements for resident and nonresident licensing. Please see the attachment for more information. _A producer who has completed a Department approved annuity training course before 8/30/2024 must complete either of the following within 6 months after 8/30/2024:_ - _A new 4 credit training course approved by the Department after 8/30/2024; or_ - _An additional 1-time, 1-credit training course approved by the Department and provided by the Department approved education provider on appropriate sales practices, replacement, and disclosure requirements_

Posted on October 1, 2024, Missouri posted a bulletin providing clarification around the “Best Interests” standard by the NAIC regarding suitability in annuity transactions that went into effect on August 30, 2024. Please see the attachment for more information.

Posted September 27, 2024, California posted a bulletin covering the latest ‘Export List’. During the annual renewal of the list, California’s Department of Insurance did not make any changes to the export list. Please see the attachment for more information.

Posted September 30, 2024, Rhode Island posted a bulletin covering legislative amendments that were enacted during the 2024 session of the Rhode Island General Assembly. Please see the attached document for more information.