Regulatory Updates

Effective January 1, 2025, Vermont will be increasing their appointment fee for resident and nonresident producers. 

Effective July 1, 2024, Kansas is increasing the Fingerprint Fee from $50.00 to $60.00 in the Resident Licensing and Nonresident Licensing No Home State applications for license class 3 Insurance Producer.

On June 6, 2024, Massachusetts announced 2024 company appointment renewal dates. - Termination Deadline July 14, 2024 - Invoice Renewal Period July 19, 2024 - August 31, 2024

On June 5, 2024, Maryland issued a bulletin summarizing all laws that have been enacted in 2024.  See attachment for full details. 

Effective June 7, 2024, South Carolina will implement a new transaction type to process designated responsible licensed producer (DRLP) updates.

Effective June 3, 2024, Virginia Bureau of Insurance moved its payment processing to J.P. Morgan Chase and its affiliated partner Paymentus.  To facilitate electronic payments, Virginia’s new Company Identification Number (0000408976) must be provided to your Accounts Payable Department.

On May 31, 2024, Louisiana announced the 2024 Agency Appointment Renewal dates. Termination Deadline: June 26, 2024 Companies will be billed for appointments that are active as of June 26, 2024. Invoice renewal period: July 1, 2024 - August 1, 2024

Effective May 30, 2024, a new transaction type will be implemented for Idaho to process individual and business entity primary name updates.

Effective May 30, 2024, a new transaction type will be implemented for South Carolina to process individual and business entity primary name updates.

On May 24, 2024,  the Massachusetts Insurance Department issued a bulletin related to Inducements, Rebates and Affiliated Entities. See attachment for full details.