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.
June 25
Oregon On June 25, 2024, Oregon implemented new transaction type to process Name Change (Demographics) updates via the NIPR Gateway.
June 25
Oregon On June 25, 2024, Oregon implemented new transaction types to process Designated Responsible Licensed Producer (DRLP)
May 28
South Carolina Effective May 24, 2024, South Carolina will be requesting additional information that must be included within the Pharmacy Benefits Manager (PBM) licensing application for resident and nonresident Third Party Administrators. -The phone number and any other contact information provided to pharmacies and pharmacists under SC ST § 38-71-2235(B) through which the pharmacy may: ask questions regarding networks, patient benefits, appeals, and other contractual or service issues and obtain answers during normal business hours within a reasonable time -The notice provided to pharmacies upon the denial of an internal appeal notifying the pharmacy or pharmacist of the right to request an external review of the internal appeal and the supporting documents describing the external review process
July 01
Kentucky Effective July 1, 2024, the Kentucky Department of Insurance’s Personal Service Contract for Continuing Education/Prelicensing Services will be handled by PSI Services. Prometric will no longer accept or process education course and instructor reviews after June 21, 2024. See attachment for full details.
July 01
Vermont Effective July 1, 2025, Vermont will be adding licensing and training requirements for resident and nonresident insurance producers related to pet insurance.
June 18
New Mexico On June 18, 2024, the Governor of New Mexico issued an emergency order to address fire emergencies in various parts of New Mexico. See attachment for full details.
June 20
Washington WA - On June 18, 2024, Washington sent out a request for industry comments on proposed producer and adjuster licensing changes. The comment period begins on June 20, 2024, and will close on August 2, 2024. Comments can be sent to the rules coordinator email address at the OIC. See attachment.
June 14
Maryland Effective June 14, 2024, Maryland implemented new transaction type to process Designated Responsible Licensed Producer (DRLP)
July 15
Kansas Effective July 15, 2024, Kansas will be waiving application fees for resident individual applicants who are the spouses of an active military service member. To determine if the applicant qualifies for a fee waiver the applicant will need to answer a new required non-uniform question (NUQ) in the Resident Licensing and Resident Renewal applications. The fee waiver is valid for the following individual applicants: Insurance Producer, Public Adjuster, Surplus Lines, Viatical Broker, Reinsurance Intermediary. If the applicant answers ‘Y’ to Key Value 5 fees will be waived for the application, reapplication, reinstatement, renewal, late renewal, and fingerprint fees. Insurance Producers will be responsible for the late renewal penalty. Please review the below table for more information.
June 14
Nebraska Effective June 14, 2024, Nebraska is implementing a new transaction to process individual and business entity primary name updates.
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