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.
September 19
The North American Securities Administrators Association (NASAA) announced that there will be no changes to the Investment Adviser Registration Depository (IARD) system fees for 2025. The waiver of IARD system fees for state-registered investment adviser firms will continue through 2025, and the initial set-up and annual system fees will remain unchanged. Please click the following link for more information.
October 29
Arkansas Posted on September 18, 2024, Arkansas Insurance Department will host a public hearing on October 29, 2024, at 10 AM. The Department is considering adopting a new proposal granting expedited licensure for military service members, veterans, and spouses. Please see the attachment for more information.
September 17
Idaho Effective September 17, 2024, Idaho implemented new transaction types to process Designated Responsible Licensed Producers (DRLP).
September 13
New Jersey Effective September 13, 2024, New Jersey will implement a new transaction type to process Primary Name Change (Demographics) updates.
December 26
Effective December 26, 2024, FINRA proposes a rule change to amend Form U4 by adding a new RSL question. The new question would require member firms to indicate whether a non-registered location identified on Form U4 as a private residence is an RSL, by responding “Yes” or “No”. Please see the attachment for more information.
September 13
New Jersey Effective September 13, 2024, New Jersey will implement new transaction type to process Designated Responsible Licensed Producer (DRLP).
August 01
Oklahoma Effective August 1, 2024, Oklahoma decreased the Producer examination fees from $41.00 to $38.00.
January 22
Ohio Effective January 22, 2025, Ohio added training requirements for residents and nonresidents for pet insurance producers.
September 10
Ohio Effective September 10, 2024, Ohio updated the verbiage for residents and nonresidents surrounding the Superintendent's steps before they deny, revoke, suspend, or refuse to issue a license, or impose any penalty. Please see the attachment for more information
September 09
Louisiana September 9, 2024, Louisiana Department of Insurance has activated catastrophe adjuster registrations in anticipation of Francine which is expected to make landfall in Louisiana on September 11, 2024. An insurer or their designee may file registrations using the Catastrophe Adjuster Registration Module in Industry Access on the LDI website. More information about catastrophe adjusters and instructions for the registration process can be found at the link below
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