Regulatory Updates

On September 12, 2024, Texas Department of Insurance is hosting a webinar where they will discuss recent changes in licensing and best practices for getting and maintaining an insurance license.  Attendees can earn one hour of CE credit. Use the following link to sign up or to find more information.

Effective August 1, 2024, Illinois cleaned up language around: CE requirements, renewal window for certification, and how to perform activities on State-based Exchange around individual resident and nonresident licenses around the following license classes: navigator, in-person counselor, and certified application counselor.

Illinois updated causes for revocation involving when a felony conviction may not be a cause for action (suspend, revoke, or deny a license).  Conviction of a felony, unless the individual demonstrates sufficient rehabilitation to warrant the  public trust 

Please see the attachment for more details.

Effective September 13, 2024, Colorado will begin loading a Pharmacy Benefit Manager license class and line of authority for Producer Database (PDB) display.

Effective September 6, 2024, Indiana will be adding a new license class of Third Party Administrator-Designated Home State for Producer Database (PDB) display.

Posted September 3, 2024, NASAA is seeking public comment on proposed amendments to two NASAA model rules to support NASAA’s Exam Validity Extension Program (“EVEP”). The two NASAA model rules are: 

- The NASAA Model Rule: Examination Requirements for Broker-Dealer Agents - The NASAA Model Rule: Examination Requirements for Investment Adviser Representatives

Effective August 30, 2024, Illinois will implement a new transaction type to process Primary Name Change (Demographics) updates. 

Effective October 11, 2024, Florida will implement a new rule to decline individual applications if the Tax Identification Number begins with the number nine. Additionally, the Continuing Education Renewal Date will begin to display on the Producer Database for Florida license classes that require CE.   Update: September 24, 2024, the Continuing Education Renewal Date displaying will be pushed back to a later date. At this time, no ETA.

Effective October 1, 2024, Texas will raise the cost for submitting course completion information. The price will increase to $1.30 per credit hour reported. Please see the attachment for more information.

Posted August 30, 2024, Colorado Department is seeking comments on the following draft proposed concerning Surplus Lines Insurance for setting necessary disclosure requirements for surplus lines insurance contracts. Please submit your comments via email (DORA_Ins_RulesandRecords@state.co.us.)  The Department has asked for comments no later than 5 pm MT, September 10th, 2024. Please see the attachment for more information.

Effective July 1, 2024, Idaho made changes for residents involving rule removal and rule language updates.