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.

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December 05th, 2023
Effective:
January 01st, 2024
map-marker U.S. Virgin Islands
Virgin Islands Division of Banking, Insurance and Financial Regulation Announces CE Requirements for 2025 Calendar Year Renewal Applications
Effective January 1, 2024, the United States Virgin Islands (USVI) Division of Banking, Insurance and Financial Regulation will begin requiring completion of 12 (9 General and 3 Ethics) Continuing Education Credits for Resident Licensees prior to submitting their renewal application for calendar year 2025. These new CE requirements apply to United States Virgin Islands Resident Licensees that hold either a valid Insurance Producer, Public Adjuster, Independent Adjuster and/or Solicitor license. Please see attached for more information.
Effective
December 05th, 2023
Effective:
December 05th, 2023
map-marker Texas
Texas Department of Insurance Makes Changes for Residents and Nonresidents Related to Subagents and License Continuation
Texas Department of Insurance made the following changes effective December 5, 2023 for residents and Nonresidents.
Effective
December 05th, 2023
Effective:
December 05th, 2023
map-marker Oklahoma
Oklahoma Insurance Department adds Exam Study and Manuals Page Link to Licensing Requirements
On December 5, 2023, Oklahoma added the following link to the Examination section of the licensing requirements for both residents and nonresidents.  
Effective
December 04th, 2023
Effective:
December 04th, 2023
map-marker New York
The National Insurance Producer Registry (NIPR) Issues a Flier Announcing Additional Licensing through NIPR for New York Department of Financial Services (NYDFS) for Brokers and Agents
The National Insurance Producer Registry (NIPR) Issues a Flier Announcing Additional Licensing through NIPR for New York Department of Financial Services (NYDFS) for Brokers and Agents. NIPR is now processing NY resident and nonresident licensing and renewals for all major lines / core limited lines license offerings for Individuals. Additionally, NIPR also plans to expand NYDFS business entity licensing services, please see attached flier for more detailed information.
Effective
December 01st, 2023
Effective:
January 01st, 2024
map-marker Montana
Montana to Add New License Class Called Temporary Surety Bail
Effective January 1, 2024, Montana will add a new offering called Temporary Surety Bail - New offering requirements: - Temporary Surety Bail has no fee - Exam required before submitting application - License expires after 12 months if applicants is approved - Must be 21 years of age - Amendment applicants deferred for fingerprint check after 1 year - Reapplications deferred for fingerprint check 
Effective
December 01st, 2023
Effective:
January 01st, 2024
map-marker Kansas
Kansas Insurance Department Announces Fee Reduction for Several License Classes
**Individual and Business Fees** - Resident Licensing / Nonresident No Home State Licensing - Insurance Producer / Application Fee reduced from $30 to $15. - Nonresident Licensing - Insurance Producer / Application Fee reduced from $80 to $50. **Individual Fees** - Resident Licensing, Nonresident Licensing No Home State - Insurance Producer / Reaplication reduced from $180 to $165. - Nonresident Licensing - Insurance Producer/ Reapplication Fee reduced from $180 to $150. **Business Fees** - Resident Licensing - Credit, Car Rental and Portable Electronics reduced from $30 to $15. - Nonresident Licensing - Credit, Car Rental and Portable Electronics reduced from $80 to $50.
Effective
December 01st, 2023
Effective:
December 01st, 2023
map-marker New Mexico
The New Mexico Office of Superintendent of Insurance Announces Pharmacy Benefit Manager (PBM) License and Renewal Process Changes
Effective December 1, 2023, The New Mexico Office of Superintendent of Insurance announced via a bulletin, changes to the process of renewing applications and renewals for Pharmacy Benefit Managers.
Effective
November 28th, 2023
Effective:
December 01st, 2023
map-marker North Dakota
North Dakota Issues Company Appointment / Terminations Change in Procedure Notice
Effective December 1, 2023, North Dakota Insurance Department will no longer accept appointment / termination documents via paper, email or mail and will only accept electronically through NIPR. Please see attached for more details.
Effective
November 27th, 2023
Effective:
December 21st, 2023
map-marker New York
New York Department of Financial Services (NYDFS) Updates Appointments Backdating Rule
Effective December 21, 2023, New York will not allow appointments to be backdated and will ignore any submissions with a backdate. Appointment Issue date will be the system date.
Effective
November 27th, 2023
Effective:
November 27th, 2023
map-marker Hawaii
Hawaii Issues Declaration from the State Insurance Commissioner Regarding Assistance of Nonresident Independent Adjusters in Response to the August 8, 2023 Maui Island Wildfire
Insurance Commissioner Gordon I. Ito authorizes temporary assistance of Nonresident independent Adjusters for the continued support of the affected communities and residents of the Maui Island wildfires. Full details can be found in the attached declaration.
Effective
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Disclaimer - AgentSync does not warrant to the completeness or accuracy of the information provided in this database. You are responsible for ensuring the accuracy and totality of all representations, assumptions, information and data provided by AgentSync to you in this database. The information in this database should not be construed as legal, financial, or other professional advice, and AgentSync is not responsible for any harm you sustain by relying on the information provided herein. You acknowledge and agree that the use of this information is at your own risk. You should always consult with the applicable state and federal regulatory authority to confirm the accuracy of any of the information provided in this database.
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effective
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