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.
May 16th , 2024
Effective:
May 16th , 2024
May 16
Georgia
Georgia is Considering Changes to Continuing Education Course Approval
Effective May 16th 2024, Georgia announced potential changes related to CE course approval. See attachment for full details.
Effective
May 13th , 2024
Effective:
May 13th , 2024
May 13
South Dakota
South Dakota Now Allows Reinstatement After Expiration Date
Effective May 13, 2024, South Dakota Division has implemented a new business rule that will allow all applicants to reinstate on the first of the month. If a Producer fails to renew by May 31, they will be able to reinstate on June 1.
Released
May 10th , 2024
Effective:
July 01st , 2024
July 01
Florida
Florida Change to Appointment Requirement in Order to Sell for Citizens Insurance Corp
Starting July 1, Florida insurance agents must have at least three appointments with authorized carriers before they can sell policies for the state-created Citizens Property Insurance Corp.
See Section 14 of the attached bill for details.
Effective
May 10th , 2024
Effective:
June 14th , 2024
June 14
New York
New York Implements New Transaction Type for Primary Name Changes
Effective June 14, 2024, New York will implement a new transaction type to support primary name changes for individuals and business entities.
Pending
May 10th , 2024
Effective:
May 10th , 2024
May 10
Oklahoma
Oklahoma Declares Emergency and Will Issue Emergency Adjuster Licenses
Effective May 10, 2024, Oklahoma Insurance Commissioner Glen Mulready ordered and declared an emergency pursuant to Section 6218 of the Oklahoma Insurance Code due to the severe outbreak of storms on or about April 25, 2024, through May 6, 2024. The declaration of emergency allows the Commissioner to issue a license as an emergency adjuster to any resident or nonresident applicant. It requires an Oklahoma-licensed resident adjuster to sponsor the applicant. An individual licensed as an emergency adjuster may only adjust claims related to the catastrophe and is valid for 90 days from the date the Commissioner issues the declaration. See attachment for full details.
Effective
May 09th , 2024
Effective:
May 09th , 2024
May 09
Louisiana
Louisiana Issues Notice of Intent to Amend Suitability in Annuity Transactions
Update: On July 30, this has been finalized
On May 9, 2024, Louisiana released a notice of intent to amend Regulation 89—Suitability in Annuity Transactions. See attachment for full details
Effective
May 08th , 2024
Effective:
November 01st , 2024
November 01
Oklahoma
Oklahoma Changes to Surplus Lines Requirements
Effective November 1, 2024, Oklahoma is making changes to Surplus Lines due diligence and premium tax reporting requirements.
Effective
May 07th , 2024
Effective:
July 01st , 2024
July 01
Kansas
Kansas Adding State and National Criminal History Record Check
Effective July 1, 2024, Kansas will require applicants to submit to state and national criminal history record check in addition to fingerprint requirement.
Effective
May 06th , 2024
Effective:
May 06th , 2024
May 06
N/A
NASAA Amends Examination Requirements for Investment Adviser Representatives
Effective May 6, 2024, the NASAA has amended examination requirements for Investment Adviser Representatives. See attachment for full details.
Effective
May 03rd , 2024
Effective:
June 06th , 2024
June 06
West Virginia
West Virginia Announces 2024 Company Appointment Renewal Dates
On May 3, 2024, West Virginia announced their 2024 Company Appointment Renewal Dates. Active appointments on record as of May 31st, 2024, will be invoiced for renewals. The renewal period ends on August 31, 2024.
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).