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 18th , 2022
Effective:
August 12th , 2022
August 12
North Carolina
North Carolina Changes to Adjuster License Types
On August 12, 2022, North Carolina will convert their Company/Independent Adjuster and Self-Employed Adjuster license type to be the Adjuster license class. The LOA will now be "Not Applicable". This will impact the following transaction types: RL, RLR, NRAL, NRAR, NHS, and NHSR.
Released
July 18th , 2022
Effective:
July 18th , 2022
July 18
Wisconsin
OCI Posts Administrative Actions for June 2022
The OCI holds the responsibility of enforcing insurance laws in Wisconsin. Every month, they publish the administrative actions taken against individuals and companies.
Effective
July 18th , 2022
Effective:
July 21st , 2022
July 21
N/A
NASAA & FINRA to Present Changes to IAR CE Program
On July 21, 2022, NASAA and FINRA plan to present recent system enhancements to the Investment Advisor Representative (IAR) Continued Education (CE) program.
Effective
July 18th , 2022
Effective:
July 07th , 2022
July 07
North Carolina
North Carolina to no Longer Require Broker Licenses
Effective July 7, 2022, North Carolina removed the broker requirement for residents and nonresidents. In this, the requirement to hold a bond is also cancelled. An agent has always been allowed to act as an agent in which they are duly appointed. Now, producer may procure insurance through a duly authorized agent without a broker license.
Effective
July 18th , 2022
Effective:
July 18th , 2022
July 18
N/A
FINRA Proposes a Rule Change that Allows Inspections to Residential Supervisory Locations
FINRA is proposing a change to Supplementary Material .19. This proposed change aligns with FINRA Rule 3110 and aims to add safeguards and limitations within private residences (non-branch locations) of an associated person engaging in specified supervisory activities. This would therefore make those locations subject to inspection about every 2-3 years.
Effective
July 15th , 2022
Effective:
July 15th , 2022
July 15
South Dakota
South Dakota Changes Annuity CE Requirements
This change impacts both existing resident and nonresident producers. Those that complete an annuity training by January 1, 2023, must also complete a new Annuity Best Interest four credit class or an additional 1-time, 1-credit course prior to July 1, 2023. New producers after January 1, 2023 must take the four credit course.
Effective
July 14th , 2022
Effective:
July 14th , 2022
July 14
New York
New York Surplus Lines Association Updates List of E&S Insurers
Please see the attached document for NY(Elany's)updated list of E&S Insurers.
Effective
July 13th , 2022
Effective:
August 26th , 2022
August 26
South Carolina
South Carolina Sets Renewal Dates and Fees for 2022
The South Carolina renewal period is Sep 1 - 30. The Late Renewal Periods is Oct 1 - Dec 1, and the Termination Deadline is Aug. 26th.
Effective
July 13th , 2022
Effective:
July 18th , 2022
July 18
West Virginia
West Virginia Updates Surplus List to Include “Hershare” and Gun Ranges
Effective immediately, WV has made changes to their surplus lines export list to include 'hershare' and gun ranges.
Effective
July 13th , 2022
Effective:
July 13th , 2022
July 13
North Carolina
NC Publishes Surplus Lines Renewal FAQ Document
The document contains renewal information, fees, membership details, and other important licensing information.
Effective
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Disclaimer - AgentSync does not warrant to the completeness or accuracy of the information provided in this database. You are responsible for ensuring the accuracy and totality of all representations, assumptions, information and data provided by AgentSync to you in this database. The information in this database should not be construed as legal, financial, or other professional advice, and AgentSync is not responsible for any harm you sustain by relying on the information provided herein. You acknowledge and agree that the use of this information is at your own risk. You should always consult with the applicable state and federal regulatory authority to confirm the accuracy of any of the information provided in this database.
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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).