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.
July 18
Texas On July 18, 2023, Texas issued a Commissioner’s Bulletin to lay out the requirements for reporting of Cybersecurity Incidents by Insurance Carriers in the state. See attachment for full details.
July 15
Pennsylvania On July 15, 2023, Pennsylvania provided the list of insurance coverages and risks eligible for export by the Insurance Commissioner. See attachment for full details.
July 31
Ohio Effective July 31, 2023, Ohio has named PSI as the new Continuing Education (CE) processing vendor for the Ohio Department of Insurance. See attachment for full details.
July 31
Ohio Effective July 31, 2023, Prometric will no longer be the CE vendor for the State of Ohio. Beginning August 1, 2023, PSI will be taking over all continuing education application processing, including renewals, provider applications, course applications, and inquiries.
July 10
Vermont Vermont has issued a bulletin authorizing use of catastrophe adjusters and appraisers. See attachment for full details.
January 01
Nevada Effective January 1, 2024, Nevada is adding a limited lines travel insurance producer licensing requirement for residents and nonresidents. See attachment for full details.
August 01
Georgia Effective August 1, 2023, George has established a rule related to Suitability in Annuity Transactions. See attachment for full details
July 10
Vermont On July 10, 2023, Vermont issued an alert regarding the use of Catastrophe Adjusters and Appraisers In response to the State of Emergency declared July 9 by Governor Phil Scott following heavy rains and anticipated floodings. The Commissioner of the Department of Financial Regulation announced that the Department is preemptively allowing property and casualty insurance carriers to use individual adjusters not licensed in Vermont. See attachment for full details.
October 19
Maine Effective October 19, 2023, Maine has revised Pet Insurance Producer requirements for Residents and Nonresidents.
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._
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