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 22nd , 2022
Effective:
June 22nd , 2022
June 22
South Carolina
Securities Industry and Regulatory Council Publishes Playbook
This playbook is meant to help securities professionals better prepare for upcoming changes to the securities industry CE program.
Effective
June 22nd , 2022
Effective:
July 21st , 2022
July 21
N/A
NASAA Requests Public Comment on Model to Extend Validity Periods of Certain Exams
NASAA requests comments be submitted on their newly proposed model rules that would extend the validity period of certain exams. These are meant to align with recent FINRA changes (Rules 1240) that pertain to CE requirements. Comments are due by July 21st, 2022. Announcement attached.
Effective
June 22nd , 2022
Effective:
July 06th , 2022
July 06
Iowa
Iowa Issues Statements on Appointing, Renewals, and Limited Lines Car Rental Agents
Effective July 6, 2022, Iowa has deleted their monthly billing statement information. For Renewals, appointments that are terminated due to non payment are now able to get re-appointed via NIPR. For limited lines, rental car agent Iowa revised deadline for notifying the Division of terminated counter employee licensees and counter employee licensee name or address changes.
Effective
June 17th , 2022
Effective:
June 22nd , 2022
June 22
Illinois
Illinois Announces June Filing Cutoff
The June cutoff is set for 4:30pm CST on June 22, 2022. Filings after this time will be part of July activity.
Effective
June 17th , 2022
Effective:
June 17th , 2022
June 17
Vermont
Vermont Revisits Travel Requirements
Limited lines refers to a licensed MGA or TPA, a licensed producer (including limited lines producer), and a travel administrator. This announcement then further defines travel admins and travels insurance.
Effective
June 17th , 2022
Effective:
June 17th , 2022
June 17
Kentucky
Kentucky Announces Legislative Changes
Kentucky releases legislative changes (attached). One to highlight is An Act Relating to the Issuance and Renewal of Occupational Licenses to Military Spouses. An administrative agency is required to issue a temporary or regular license to the spouse of someone currently in the armed forces. The spouse will not need to pay fees if they meet the requirements. Previously, fees were not waived.
Effective
June 16th , 2022
Effective:
June 16th , 2022
June 16
South Carolina
South Carolina Updates CE Exemptions
The following are exempt from CE: Producers licensed for limited lines, nonresidents who met their home state's CE requirements, and licensees that are 65 years old and have been licensed for 25 years.
Effective
June 16th , 2022
Effective:
June 16th , 2022
June 16
Idaho
Idaho Updates Direct Placement for Surplus Lines
Surplus Lines premium tax must be paid by check to the Idaho Department of Insurance. The stamping fee must be paid to the Surplus Lines Association of Idaho.
Effective
June 16th , 2022
Effective:
June 16th , 2022
June 16
Florida
Florida Changes Fingerprint Requirements
Florida announces that a fingerprint fee is no longer required and the fingerprints must be processed in compliance with FL ST § 624.34. This will then be used to investigate if the applicant is qualified.
Effective
June 16th , 2022
Effective:
June 16th , 2022
June 16
Maryland
Maryland Issues Reminder to Public Adjusters
This announcement is reminding Public Adjusters of laws that are already in effect, but highlights specific provisions.
Effective
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analyzed
Our compliance experts have identified the update and analyzed it for impact on both the industry and AgentSync products.
pending
The time between the update's publication date and effective date.
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).