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.
January 19th , 2024
Effective:
January 11th , 2024
January 11
Vermont
Vermont Department of Financial Regulation Approves Legislation for Suitability in Annuity Transactions
Effective January 11, 2024, Vermont adopted regulation for suitability in annuity to require producers to act in the best interest of consumers.
Effective
January 19th , 2024
Effective:
January 19th , 2024
January 19
Arizona
Arizona Department of Insurance and Financial Institutions Publishes Continuing Education Program Provider Education Packet
On January 19, 2024 Arizona published their Continuing Education packet which will be handled through Prometric. Please see attached to learn more about Continuing Education instructions, provider information, course information, SBS instructions, fees and more.
Effective
January 18th , 2024
Effective:
January 18th , 2024
January 18
North Dakota
North Dakota Insurance Department Updates Affidavit Requirements for Surplus Lines License and Premium Tax
On January 18, 2024, North Dakota updated the general provisions section for Surplus Lines license and premium tax, particularly related to Domestic Surplus Lines Insurers (DSLI) by adding a supporting citation for diligent search requirements while removing another supporting citation for provisions related to exemptions. Another update was related to adding commercial cyber insurance to the export list of acceptable categories.
Effective
January 17th , 2024
Effective:
February 16th , 2024
February 16
Kansas
Kansas Insurance Department Removing Designated Responsible Licensed Producer Requirement for Reinsurance Intermediary Applicants
Effective February 16, 2024, Kansas to end requirement for Designated Responsible Licensed Producer (DLRP) for Reinsurance Intermediaries. They will still be required to answer Business Non Uniform Questions to identify the last name of the responsible party for the Reinsurance Intermediary license class.
Effective
January 17th , 2024
Effective:
February 16th , 2024
February 16
Washington
Washington State Office of the Insurance Commissioner to Add New License Classes for Business Entities and Individuals
Effective February 16, 2024, Washington is adding new individual and business license classes for renewal applications. Changes will also include adding a new Non Uniform Question (NUQ) for business entities to identify the number of employees.
Released
January 16th , 2024
Effective:
February 16th , 2024
February 16
Wisconsin
Wisconsin Office of the Commissioner of Insurance to Make PDB Display Changes by Converting Risk Purchasing Group and Rate Service Organization to Business Entity
Effective February 16, 2024, Wisconsin will be adding new license classes by converting Risk Purchasing Group and Rate Service Organization into Business Entity for PDB Display. Originally, these license classes were distinct but will now be reclassified into Business entities.
Released
January 16th , 2024
Effective:
February 16th , 2024
February 16
South Carolina
South Carolina Department of Insurance to Update Individual Adjusters Retaliatory Fees Nonresident Licensing and Nonresident Renewals
Effective February 16, 2024, South Carolina will decrease Adjuster fees as shown below:
New Nonresident Adjuster License Fee: $109.00 per transaction
New Nonresident Adjuster Renewal Fee: $169.00 per transaction
Effective
January 11th , 2024
Effective:
January 11th , 2024
January 11
Wyoming
Wyoming Department of Insurance Agency Agreements Termination Reminder for Property and Casualty and Individual Life and Annuities
On January 10, 2024, Wyoming updated termination requirements with a reminder that January 31, 2024 is the last day to terminate to avoid renewal fees. Invoices must be paid in full once generated for company’s appointments. March 31, 2024 is the final day to pay invoice to avoid automatic termination with an effective date of January 31, 2024.
Effective
January 10th , 2024
Effective:
January 10th , 2024
January 10
New Mexico
The New Mexico Superintendent of Insurance Seeks Comment on Proposal for Producer and Adjuster Licensing Changes
On January 10, 2024, New Mexico sent out a request for industry comments on proposed producer and adjuster licensing changes. Comments can be sent to [osi-producerlicensingrulemaking@state.nm.us](mailto:osi-producerlicensingrulemaking@state.nm.us) by 4pm MST on January 26, 2024, for consideration. Please see attached for more information.
Effective
January 09th , 2024
Effective:
January 09th , 2024
January 09
New Hampshire
The New Hampshire Insurance Department Sends Reminder on Surplus Lines Requirements
On January 9, 2024, the New Hampshire Insurance Department sent a reminder for all producers who hold surplus lines about updated filing instructions and requirements.
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).