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.
July 02
North Carolina Effective July 2, 2024, North Carolina removed the state statute about not allowing an insurance producer license holding any of the following lines of authority: casualty, personal lines, or property to have an active adjuster license for resident and nonresident licensing requirements.
North Carolina added the following option for terminating an appointment, “Notice of cancellation may be submitted to the Commissioner by either the appointing insurer or appointed insurance producer.”
July 01
Alabama Effective July 1, 2024, Alabama updated verbiage for resident and nonresident Limited Lines: credit insurance licenses. The requirements for a business entity to obtain a limited lines credit insurance producer license have been updated too. Please see the attachment for details on the adopted amendment.
October 01
Alabama Effective October 1, 2024, Alabama’s Title Agent license class fees will be updated. Please see the attachment for details on the adopted amendment.
August 17
Ohio Effective August 17, 2024, Ohio will no longer reflect appointments that have been inactive for over five years on PDB.
July 26
North Carolina Effective July 26, 2024, North Carolina will implement a new transaction type to process Primary Name Change (Demographics) updates.
June 30
Delaware Effective June 30, 2024, Delaware Department of Insurance updated the requirements for residents and nonresident adjuster licenses when a licensed individual agent or broker doesn't need an adjuster license. Please see the attachment for more information
July 26
North Carolina Effective July 26, 2024, North Carolina will implement new transaction type to process Designated Responsible Licensed Producer (DRLP)
July 26
Tennessee Effective July 26, 2024, Tennessee will implement a new transaction type to process designated responsible licensed producer (DRLP) updates.
September 01
South Carolina Update: September 9, 2024 - Invoice renewals have been turned back on Update: September 6, 2024 - Invoice renewals have been temporarily turned off to research discrepancies On July 25, 2024, South Carolina announced 2024 company appointment renewal dates. - Termination Deadline August 26, 2024 - Invoice Renewal Period September 1, 2024 - September 30, 2024 - Late Renewal Period October 1, 2024 - December 1, 2024
October 01
Maryland On July 24, 2024, Maryland posted a bulletin repealing the pre-licensing education and experience requirements for certain producer license applicants. This change will be effective on October 1, 2024. Please see the attached bulletin for more information.
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