Regulatory Updates

On September 29, 2023, New Mexico announced that licensees with an expiration date of September 30, 2023 will have their license expiration dates extended by two weeks. This extension will also apply to Continuing Education (CE). Licensees will have until the license expiration date to become compliant with Continuing Education.

On September 29, 2023, Oregon issued a bulletin to clarify the Division of Financial Regulation (DFR) expectations for insurance producers and producer license applicants.

See attachment for full details.

On September 29, 2023, New Mexico sent an urgent notice indicating that it had detected a cyber incident on its network.

Effective October, 1, 2023, Nevada added the following License Class to the Producer DataBase (PDB): - Nonresident Bail Agent (Display Purposes only)

Effective October 13, 2023 South Carolina will add a new license class Pharmacy Service Administrative Organization for business entities.

Effective October 17, 2023, Michigan will allow individual applicants to change the state code of the mailing address to any state. However, Michigan individual residents’ business address state code must be one of the following: - Michigan - Indiana - Ohio - Wisconsin - Illinois

FINRA reminds firms and industry professionals that effective Jan. 1, 2023, FINRA and other self-regulatory organization (SRO) rules require registered persons to complete their continuing education (CE) Regulatory Element annually, by Dec. 31, for each registration that they hold.

California Communicates Additional Foreign Language Requirements for Examinations. This is an update from December 1, 2023 related to the original notice posted on September 19, 2023 by California Department of Insurance.

Producer license examinations must be provided in certain languages as discussed below.

a. Beginning 1/1/2024, the Life Agent, Life - Limited to the Payment of Funeral and Burial Expenses, Disability Analyst, Accident and Health or Sickness Agent, Property Broker - Agent, Personal Lines, Limited Lines Auto, Commercial and Casualty Broker - Agent examinations must be provided in English, Spanish, Simplified Chinese, Vietnamese, and Korean.

b. On or after 7/1/2024, the Life Agent, Life - Limited to the Payment of Funeral and Burial Expenses, Disability Analyst, Accident and Health or Sickness Agent, Property Broker - Agent, Personal Lines, Limited Lines Auto, Commercial and Casualty Broker - Agent examinations must be provided in Tagalog.

Scheduling for the new license examinations will be available starting on Friday, December 15, 2023

Please see attached for more details.

Effective September 19, 2023, Delaware has added Pet Insurance Producer Training Requirements. See attachment for full details.

On September 19, 2023, Connecticut issued a bulletin that rescinds and replaces Bulletin PC-34 regarding notification to the Commissioner under Connecticut General Statute §38a-44 if an insurer is discontinuing or substantially reducing its writings in a line or subline of property and casualty insurance. The purpose of Connecticut General Statute §38a-44 is to permit the Commissioner time to evaluate the impact on the market of proposals by one or more companies to discontinue or substantially reduce writings in a line or subline of insurance in Connecticut. See attachment for full details.