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.
April 17th , 2023
Effective:
April 17th , 2023
April 17
Guam
NASAA votes to admit Guam to the association
NASAA votes to admit Guam to the association. See attachment for full details.
Effective
April 17th , 2023
Effective:
April 17th , 2023
April 17
Texas
Texas Proposes Amendments to Licensees with Criminal History
The Texas Department of Insurance proposes amending 28 TAC §1.502, concerning licensing persons with criminal history. These amendments update the section for consistency with Occupations Code §§53.021, 53.022, and 53.023, amended by House Bill 1342, 86th Legislature, 2019.
See attachment for full details.
Effective
April 17th , 2023
Effective:
April 17th , 2023
April 17
N/A
NASAA approved two regulatory proposals
NASAA approved two regulatory proposals. See attachment for details.
Effective
April 14th , 2023
Effective:
April 14th , 2023
April 14
Kentucky
Kentucky Clarifies its Local Government Premium Tax Process for Carriers and Surplus Lines Brokers
Kentucky clarifies its Local Government Premium Tax process for carriers and Surplus Lines brokers. See attachment for full details.
Effective
April 14th , 2023
Effective:
June 30th , 2023
June 30
Arkansas
Arkansas 2023 Company Appointment Renewals
Arkansas has released their 2023 Company Appointment Renewal dates. The renewal dates are June 1, 2023 - June 30, 2023. Electronic Termination Deadline is May 24, 2023, and the paper deadline is May 1, 2023
Effective
April 14th , 2023
Effective:
May 12th , 2023
May 12
Alaska
Alaska to Add Surplus Lines Broker Mapping
Effective May 12th, 2023, Alaska will require nonresident Alaska applicants for Surplus Lines Broker to hold Surplus Lines in their resident state.
Effective
April 13th , 2023
Effective:
June 08th , 2023
June 08
Virginia
Virginia Will Add Non-Uniform Questions for Viatical Settlement Broker
Effective June 9, 2023, Virginia will add new Non-Uniform Questions for Viatical Settlement Broker applicants. These will be required for Resident, Nonresident, Resident Renewal, and Nonresident Renewals.
Effective
April 12th , 2023
Effective:
April 12th , 2023
April 12
New Mexico
New Mexico Clarifies its Adjuster Licensing Requirements
The Office of Superintendent of Insurance continues to receive inquiries related to the licensing of both resident and nonresident adjusters. These inquiries have revealed some discrepancies between the requirements set forth in Chapter 59A NMSA 1978, the New Mexico Insurance Code, and those contained in the Title 13 of the New Mexico Administrative Code. The Producer Licensing Bureau is currently working on an update and revisions to those provisions of Title 13 (Insurance) of the New Mexico Administrative Code administered by this Bureau, addressing the adjuster related discrepancies will be included in that process. In the meantime, given that state statute controls when an administrative rule conflicts with a statute, the Producer Licensing Bureau will be using statutory provisions when administering adjuster licensing requirements.
See attachment for full details.
Effective
April 12th , 2023
Effective:
June 16th , 2023
June 16
New Mexico
New Mexico Surety Bond Requirement
Effective June 16, 2023, New Mexico will only require public adjusters to hold a surety bond. See attachment for full details.
Effective
April 12th , 2023
Effective:
April 12th , 2023
April 12
Louisiana
Louisiana Guidance Regarding Producer Compensation (revised and reissued)
Advisory Letter No. 2015-02, originally issued June 3, 2015, is hereby revised and reissued to provide updated guidance and clarity due to changes in the law since its original issuance. See attachment for full details
Effective
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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).