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.
June 20
Idaho Effective June 20, 2023, Idaho has added additional conditions allowing residents to apply for a temporary producer license.
_Due to electronic fingerprinting being currently unavailable and delays occurring because of physical fingerprint hard card submissions, the Department authorizes resident producer license applicants to request temporary licenses._
_ a. Requests must be submitted using the "Temporary Resident Producer License Request Form" available at https://bit.ly/44yQtoc._ _ b. The Department may issue a temporary license to an applicant pending receipt of the criminal background check report if all other licensing requirements have been met._ _ c. Temporary licenses are valid for a period not to exceed 180 days._
January 01
Alabama Effective January 1, 2024, Alabama is making changes to Independent Adjuster regulations. See attachment for full details.
January 01
Alabama Effective January 1, 2024, Alabama is making changes to regulations relating to the licensing and appointment of insurance producers, temporary producers, and service representatives; and the various types of disciplinary action concerning licenses and grants of authority. See attachment for full details.
July 06
Utah On July 6, 2023, Utah issued a bulletin as a reminder related to Duty to Give Notice of Termination for Cause. See attachment for details.
July 05
On July 5, FINRA published details related to proposed changes to rules related to Residential Supervisory Locations. See attachment for full details.
June 19
Texas TX made the following changes effective June 19, 2023 for Residents and Nonresidents. Deleted navigator registration and pre licensing requirements for individuals and organizations. Deleted full-time home office salaried employee information from individual license requirements.
July 03
Nevada See attachment for full details.
May 22
Maryland 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.
July 03
Pennsylvania Pennsylvania has published 2023 Market Conduct Review Rates. See attachment for full details.
June 30
Louisiana 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.
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