Regulatory Updates

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 October 10, 2024, Kentucky will add Self-Service Storage Space to be processed electronically for Appointments and Terminations. 

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.

Illinois announces its company appointment renewal period to be November 5, 2024 - January 2, 2024.

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:

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.

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.

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 17, 2024, Idaho implemented new transaction types to process Designated Responsible Licensed Producers (DRLP).

Effective September 13, 2024, New Jersey will implement a new transaction type to process Primary Name Change (Demographics) updates.