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.
October 13
Connecticut Effective October 13, 2023, Connecticut will be updating business rule for Revoked status to defer to the state instead of reject for both individuals and business. This will apply to Resident Licensing, Resident Licensing Renewals, Nonresident Licensing, Nonresident Renewals, Nonresident Adjuster Licensing, Nonresident Adjuster Renewal, No Home State and No Home State Renewals.
October 25
Maine Effective October 25, 2023, Maine will be making changes to P&C Surplus Lines Licenses and Premium Taxes. See attachment for full details.
January 01
California Effective January 1, 2024, California is making license exam requirement changes. See attachment for full details.
September 11
Idaho See attachment for Idaho Department of Insurance September 2023 newsletter.
September 08
West Virginia On September 9, 2023, West Virginia made some updates to the existing language related to Surplus Lines License and Premium Tax Changes for Resident and Nonresidents. See attachment for full details.
September 08
Florida On September 8, 2023, Florida issued a statement related to recent MyProfile updates.
November 02
Illinois Appointment renewal invoices and the list of appointment renewals due will be available on the NIPR website beginning 8:00 AM Central Time, November 2, 2023, through 4:00 PM Central Time January 2, 2024.
October 13
New York Effective October 13, 2023, New York will begin loading Continuing Education (CE) compliance data to the Producer Database (PDB). The current value loaded to the CE compliance field on PDB does not accurately capture the licensee’s CE compliance status. With these changes, the licensee’s current CE compliance status for New York will be loaded to the PDB report. Note: The compliance indicator on PDB will only include general CE compliance. Certain license classes require ‘Flood’ courses, but PDB will only display the general compliance status.
September 15
Arizona Effective September 15, 2023, nonresident individuals applying for Adjuster license class 5 (Adjuster), line of authority 889(Adjuster) will no longer be required to pay the fingerprint fee.
August 31
Texas On August 31, 2023, Texas issued a bulletin describing insurance legislation enacted during their 88th Legislature, Regular Session, 2023. See attachment for full details.
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