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.
November 27th , 2023
Effective:
November 27th , 2023
November 27
Kentucky
Kentucky Issues 2024 Company Appointment Renewals Dates
The invoice renewal period Property and Casualty and Other limited lines is Jan. 8, 2024 AM EST - March 31, 2024 3PM EST. The late renewal period is April 1, 2024 8AM EST - June 30, 2024 3PM EST. The termination deadline is Jan. 4, 2024.
**Renewal Fees: **
Individual Producers with RL: $40
Business entities/Agencies with RL: $100
Individual NR Producer: $50
Business entities/Agencies with NRL: $120
**Late Renewal Fees:**
Individual Producers with RL: $80
Business entities/Agencies with RL: $200
Individual NR Producer: $100
Business entities/Agencies with NRL: $240
Effective
November 21st , 2023
Effective:
January 01st , 2024
January 01
Illinois
Illinois to Update Bail Bond Requirement for Public Adjusters
Effective January 1, 2024, Illinois to Update Bail Bond Requirement for Public Adjusters.
Bond Amounts for Public Adjusters will change from $20,000 to $50,000.
This change will affect the following:
- Resident Licensing,
- Nonresident Licensing,
- Nonresident Licensing
- No Home State applications for Public Adjusters.
No Impact to Manage
Posted to the compliance library
Effective
November 21st , 2023
Effective:
January 01st , 2024
January 01
Vermont
Vermont Will Update Various Retaliatory Fees
Effective January 1, 2024, Vermont will update various retaliatory fees for the following:
Nonresident Licensing,
Nonresident Adjuster Licensing,
Nonresident Adjuster Renewal,
Nonresident Licensing No Home State,
Nonresident Renewal No Home State.
Effective
November 21st , 2023
Effective:
November 21st , 2023
November 21
Kansas
Kansas Sets 2024 Company Appointment Renewal Dates
The Kansas Department of Insurance Company Appointment Renewal Dates will be January 4, 2024 – March 1, 2024. Termination deadline is December 23, 2023.
Effective
November 20th , 2023
Effective:
November 20th , 2023
November 20
New Mexico
New Mexico Issues 2024 Company Appointment Renewal Dates
The invoice renewal period for insurance Producer, Limited Surety Individual is Jan. 3, 2024 AM CT to March 1, 2024 3PM CT. The termination deadline is December 28, 2023.
**Renewal Fees: **
Individual Producers $20 / Appointment
Limited Surety $20 / Appointment
Effective
November 17th , 2023
Effective:
November 17th , 2023
November 17
Ohio
Ohio Department of Insurance Publishes Changes to Licensing Requirements for Residents and Nonresidents
**November 17, 2023 - LICENSING REQUIREMENTS - NONRESIDENT - OH**
- Clarification on Dual Licensure Requirements in Variable Contract License, General Requirements section and removed references to Life Insurance.
**November 20, 2023 - LICENSING REQUIREMENTS - RESIDENT - OH**
- Clarification on Dual Licensure Requirements in Variable Life Insurance and Annuities, General Requirements section and removed references to Life Insurance.
Effective
November 16th , 2023
Effective:
January 01st , 2024
January 01
Washington
Washington State Office of the Insurance Commissioner Provides Best Interest Course Update
On November 16, 2023, Washington announced a new course requirement for annuities producers effective on January 1, 2024. Sales of Annuities producer training will be updated to include Best Interest Standards. Please see attached for more information on training, CE requirements and deadlines.
Effective
November 15th , 2023
Effective:
November 15th , 2023
November 15
Iowa
Iowa Sets 2024 Company Appointment Renewal Dates
The 2024 Iowa appointment renewal dates are January 5, 2024 – March 15, 2024.
The termination deadline is December 27, 2023.
Effective
November 14th , 2023
Effective:
November 14th , 2023
November 14
Wisconsin
Wisconsin Agent Appointment Renewal Invoices for 2023
The Wisconsin Office of the Commissioner of Insurance (OCI) will process all company appointments electronically through the National Insurance Producer Registry (NIPR). The appointment renewal invoice will include all resident / nonresident appointment renewals.
The 2023 Wisconsin appointment renewal dates are 1/5/2024 - 3/15/2024. Appointments added after 1/1/2024 will be associated with the 2024 renewal date period.
Please see attached for more informaiton.
Effective
November 13th , 2023
Effective:
November 13th , 2023
November 13
Delaware
Delaware Department of Insurance Publishes Changes to Licensing Requirements for Residents and Nonresidents Third Party Administrators (TPA)
Delaware Department of Insurance published changes on licensing requirements for Resident and Nonresident TPA in the Definition Section and adding the following to General Requirements regarding Annual Reports:
- Administrators must file an annual report for the previous calendar year on or before July 1 each year.
Effective
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analyzed
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pending
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effective
The date the update takes effect.
released
This means an AgentSync product was updated as a result of this change and the update is now live in our product(s).