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.
August 21
Connecticut Effective August 21, 2024, Connecticut Governor Ned Lamont declared a state of emergency in response to the flooding that affected parts of Connecticut. Connecticut Department of Insurance posted a bulletin reminding resident insurers and licensees of Fairfield, New Haven and Litchfield counties how to handle insurance claims throughout the state of emergency. Please see the attachment for more information.
May 28
Rhode Island On August 22, 2024, Rhode Island posted a bulletin regarding Adjuster Continuing Education requirements which will be effective May 28, 2024. The Department is implementing continuing education for insurance claim adjusters who will be required to complete twenty-one (21) general credits and three (3) ethics credits. Please see the attachment for more information.
January 01
Rhode Island On August 22, 2024, Rhode Island posted a bulletin about appointment filing instructions for the newly enacted implementation of insurance producer electronic appointments, required to be filed through NIPR’s Insurance Appointment and Termination system beginning January 01, 2025. Please see the attachment for more information.
January 01
New Hampshire Effective January 1, 2025, New Hampshire added a licensing exemption for resident and nonresident adjusters that only investigate, negotiate, settle, or complete a first notice of loss claim form for automobile glass replacement or repair claims. Please see the attachment for more information.
August 21
Wisconsin Effective August 21, 2024, Wisconsin will implement a new transaction type to process Primary Name Change (Demographics) updates.
August 21
Wisconsin Effective August 21, 2024, Wisconsin will implement a new transaction type to process Designated Responsible Licensed Producer (DRLP).
January 24
On August 16, 2024, FINRA released information about the annual renewal process for 2025. Firms are required to renew their registrations with FINRA, other self-regulatory organizations (SROs) and states/jurisdictions during the Annual Renewal Program, which begins in the fourth quarter of each year. Renewal fees are provided through two statements: - The Preliminary Statement reflects registration information as of early-to-mid November. - The Final Statement reflects registration information as of Jan. 2. Please use the hyperlink below for more information. FINRA 2025 Annual Renewal Program
January 24
On August 16, 2024, IARD released information about the annual renewal process for 2025. Please see the attachment for the calendar. Please use the hyperlink below for more information. IARD Renewal Program
October 01
Maryland Effective October 1, 2024, Maryland added requirements for resident and nonresident limited lines credit insurance producer applicants needing to finish a Commissioner-approved course led by an insurer that sells, solicits, or negotiates limited line credit insurance before being licensed.
August 16
District of Columbia Effective August 9, 2024, District of Columbia will implement a new transaction type to process Primary Name Change (Demographics) updates.
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