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.
July 03rd , 2023
Effective:
July 03rd , 2023
July 03
Nevada
Nevada has Modernized Outdated Administrative Regulations
See attachment for full details.
Effective
July 03rd , 2023
Effective:
May 22nd , 2023
May 22
Maryland
Maryland Made a Change to Continuing Education Requirement
Maryland made a change to continuing education requirements effective May 22, 2023. A licensed insurance producer who possesses a license to sell property and casualty insurance and who sells flood insurance, homeowners insurance, or commercial property insurance shall obtain at least 2 hours of continuing education that directly relates to flood insurance as part of the required hours of continuing education.
See attachment.
Effective
July 03rd , 2023
Effective:
July 03rd , 2023
July 03
Pennsylvania
Pennsylvania has Published 2023 Market Conduct Review Rates
Pennsylvania has published 2023 Market Conduct Review Rates. See attachment for full details.
Effective
June 30th , 2023
Effective:
June 30th , 2023
June 30
Louisiana
Louisiana Has Posted 2023 Appointment Renewal Invoices for Producer Agencies
Effective June 30, 2023, Louisiana has posted appointment renewal invoices for Louisiana producer agencies have posted to the National Insurance Producer Registry (NIPR) website. The invoice includes all producer agency appointments active as of June 28, 2023.
See attachment.
Effective
June 30th , 2023
Effective:
January 01st , 2022
January 01
Maine
Maine Surplus Lines Premium Tax Change
Maine is retroactively changing Surplus Lines Premium Tax to 3% effective January 1, 2023.
See attachment.
Effective
June 28th , 2023
Effective:
June 19th , 2023
June 19
New Jersey
New Jersey Made Changes to Continuing Education General Requirements
Effective June 19, 2023, New Jersey made changes to Continuing Education: General Requirements for Residents -
a) Revised the ethics requirement.
b) Added conditions under which credit hours may be carried over.
c) Revised amount of CE credits earned by CE course instructors.
Effective
June 28th , 2023
Effective:
July 01st , 2023
July 01
Florida
Florida Changing Pre-License Education Requirement
Effective July 1, 2023, Florida is changing Pre-License Education Requirement for Residents to reduce the number of coursework hours to be completed in life insurance, annuities, and variable contracts from "40 hours" to "30 hours."
Effective
June 28th , 2023
Effective:
July 01st , 2024
July 01
Nevada
Nevada Making Changes Related to Travel License Requirements
Effective July 1, 2024, Nevada will add that limited lines travel insurance producers, travel retailers, and the travel retailer's employees or authorized representatives will be subject to Section 2.2 of 2023 NV A.B. 7(NS) for Residents and Nonresidents.
Effective
June 28th , 2023
Effective:
August 03rd , 2023
August 03
Washington
Washington To No Longer Allow Appointment Backdating
UPDATE 06/29/2023: The effective date for this change was moved to August 3, 2023
UPDATE 06/28/2023: The effective date for this change was moved to July 27, 2023.
Effective April 14, 2023, Washington will not allow backdating for any appointments.
Visit the AgentSync website for additional details that can be found in the article titled **5 Things to Know About Washington State's Appointment Procedure.**
Released
June 26th , 2023
Effective:
June 26th , 2023
June 26
Nevada
Nevada Consumer Alert: License Renewal Email Scam
Nevada issued a Consumer Alert related to a license renewal email scam they were made aware of. Please see attachment for full details.
Effective
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analyzed
Our compliance experts have identified the update and analyzed it for impact on both the industry and AgentSync products.
pending
The time between the update's publication date and effective date.
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).