Regulatory Updates

Effective July 26, 2024, North Carolina will implement new transaction type to process Designated Responsible Licensed Producer (DRLP)

Effective July 26, 2024, Tennessee will implement a new transaction type to process designated responsible licensed producer (DRLP) updates.

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

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.

On July 18, 2024, Georgia posted a bulletin addressing surplus line insurers and brokers collecting unauthorized fees. This bulletin supersedes the previous bulletin on this topic(Bulletin 22-EX-4), therefore this bulletin is meant to supersede and replace that bulletin. Please see the attachment to review the full bulletin.

On July 24, 2024, Oklahoma issued an order adopting amendments related to the Uniform Securities Act of 2004. Please see the attachment for the details of the adopted amendments.

On July 17, 2024, FINRA published three new tools to help firms in the process of filling a new or continuing membership application. New Membership Application Programs (MAP).

On July 19, 2024, Ohio requested feedback on proposed changes related to the following: - Agent continuing education - Qualifications of continuing education courses - Standards for continuing education providers  - Agent pre-licensing education Please review the attachments for full details. Email ecomment@insurance.ohio.gov to submit your comments. 

On July 19, 2024, Hawaii made changes to the requirements that were effective on June 21, 2024 for resident and nonresident reinsurance intermediary-manager and third-party administrator licenses. The Commissioner may require a reinsurance intermediary-manager to provide any report required by the Commissioner. Before a Third-Party Administrator license is issued, the administrator must file with the Commissioner and maintain a $100,000 surety bond for the first licensing biennial, and at least $300,000 for every subsequent license renewal.

Effective July 19, 2024, Tennessee is implementing a new transaction type to process Name Change (Demographics) updates via the NIPR Gateway.