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.

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Publication Date
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June 27th, 2024
Effective:
October 01st, 2024
map-marker Connecticut
Connecticut to Revise Adjuster and Appraiser Expiration Dates for Residents and Nonresidents
Effective October 1, 2024, Connecticut revised the motor vehicle physical damage appraiser, and casualty adjuster license expiration date information for residents and nonresidents. Please see the attachment for more information The above licenses that are issued on or after October 1, 2024 will receive a new expiration date of two years after the licensee's last day of the birth month that preceded the date the license was issued. 
Effective
June 27th, 2024
Effective:
December 07th, 2024
map-marker Pennsylvania
Pennsylvania Adding Licensing and Training Requirements for Pet Insurance
Effective December 7, 2024, Pennsylvania will be adding licensing and training requirements for resident and nonresident insurance producers related to pet insurance. Pet insurance producers must be appropriately licensed and complete the required training in order to sell, solicit, or negotiate a pet insurance policy or related product.
Effective
June 27th, 2024
Effective:
June 11th, 2024
map-marker Massachusetts
Massachusetts Update for Life Settlement Brokers
Effective July 11, 2024 Massachusetts will require applicants for Life Settlement Brokers to hold a Life line of authority for one year
Released
June 26th, 2024
Effective:
August 01st, 2024
map-marker Louisiana
Louisiana Adding Conditions for Acting as an MGA
Effective August 1, 2024, Louisiana will be adding additional conditions under which certain persons with prior control over officer/director selection or appointments for an insolvent insurer may be approved to act as an MGA. These conditions will be added for residents and nonresidents. Unless a person proves that his/her actions or omissions did not significantly contribute to an insurer's insolvency, a person may not act as an MGA in Louisiana if the person: -Is a former officer, director, or person with direct or indirect control over the selection or appointment of an officer or director of an insurer doing business in Louisiana; and -Served in that capacity within the 2-year period before the insurer became insolvent. The Commissioner may approve a person discussed above if at least 5 years have passed since the insurer became insolvent.
Effective
June 25th, 2024
Effective:
June 25th, 2024
map-marker Oregon
Oregon Implements New Transaction Types to Process Designated Responsible Licensed Producer (DRLP) and Name Change Updates
On June 25, 2024, Oregon implemented new transaction types to process Designated Responsible Licensed Producer (DRLP) and Name Change (Demographics) updates via the NIPR Gateway.
Pending
June 21st, 2024
Effective:
May 28th, 2024
map-marker South Carolina
South Carolina Update to Required Additional Information for Pharmacy Benefit Manager Applications
Effective May 24, 2024, South Carolina will be requesting additional information that must be included within the Pharmacy Benefits Manager (PBM) licensing application for resident and nonresident Third Party Administrators.  -The phone number and any other contact information  provided to pharmacies and pharmacists under SC ST § 38-71-2235(B) through which the pharmacy may: ask questions regarding networks, patient benefits, appeals, and other contractual or service issues and obtain answers during normal business hours within a reasonable time -The notice provided to pharmacies upon the denial of an internal appeal notifying the pharmacy or pharmacist of the right to request an external review of the internal appeal and the supporting documents describing the external review process
Effective
June 20th, 2024
Effective:
July 01st, 2024
map-marker Kentucky
Kentucky Changing Continuing Education Service Provider
Effective July 1, 2024, the Kentucky Department of Insurance’s Personal Service Contract for Continuing Education/Prelicensing Services will be handled by PSI Services. Prometric will no longer accept or process education course and instructor reviews after June 21, 2024. See attachment for full details. 
Effective
June 18th, 2024
Effective:
July 01st, 2025
map-marker Vermont
Vermont Adding Pet Insurance Licensing and Training Requirements
Effective July 1, 2025, Vermont will be adding licensing and training requirements for resident and nonresident insurance producers related to pet insurance.
Effective
June 18th, 2024
Effective:
June 18th, 2024
map-marker New Mexico
New Mexico Issues Emergency Order
On June 18, 2024, the Governor of New Mexico issued an emergency order to address fire emergencies in various parts of New Mexico. See attachment for full details.
Effective
June 17th, 2024
Effective:
June 20th, 2024
map-marker Washington
Washington Seeking Comments Regarding Licensing Requirement Rule Changes for Producers and Adjusters
WA - On June 18, 2024, Washington sent out a request for industry comments on proposed producer and adjuster licensing changes. The comment period begins on June 20, 2024, and will close on August 2, 2024. Comments can be sent to the rules coordinator email address at the OIC. See attachment.
Effective
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