Regulatory Updates

On July 15, 2024, FINRA added a new column to SRO Fees & Setting Schedules to indicate Residential Supervisory Locations (RSLs).  Please see the attachment for more information. Information Link

On June 24, 2024, Montana provided a list of eligible Surplus Lines companies. Please see the attachment for more information.

Effective July 1, 2024, Alabama released a legislation update affecting sales agents writing for Health Maintenance Organizations (HMO). Please see the attachment for more information.

On July 15, 2024, Ohio amended the effective date for resident individual insurance navigator initial and renewal fee changes from October 3, 2023 to September 9, 2024. Initial license: currently $200.00 will change to $0.00 Renewal fee: currently $100.00 will change to $0.00 Please see the attachment for full details.

Effective September 15, 2024, Pennsylvania will be adding licensing requirements and updated definitions for resident and nonresident insurance producers related to travel insurance. Please see the attachment for more information

- Added travel administrator requirements and definitions - Revised the following insurance producers' definitions and requirements - Limited lines travel insurance producer - Travel insurance producer

On July 10, 2024, Alabama amends its title insurance agent renewal procedures, effective October 1, 2024. Please see the attachment for more information.

On July 10, 2024, Texas Acting Governor Dan Patrick issued a disaster declaration from a recent hurricane including claims and emergency adjuster information.

Effective July 12 2024, Nebraska is implementing a new transaction to process Designated Responsible Licensed Producer (DRLP) updates.

On July 10, 2024, Alabama issued legislation affecting credit Insurance producers' and business entities' licensing and standards, effective July 1, 2024. Please see the attachment for more information.

Effective July 8, 2024, Pennsylvania has amended the Surplus Lines broker fees for personal lines. This bill also discusses inspection fees. See the attachment for more information. 

Updated: On September 18, 2024, Pennsylvania changed the information required on the monthly report to the Department to include service fees charged.  “Each report shall include the amount of the service fees charged for each surplus lines insurance policy issued.” Please see the attachment for more information.