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 02nd , 2022
Effective:
June 10th , 2022
June 10
Louisiana
Update to Louisiana Opening Contact Change Request
This will now go into effect on June 10th rather than May 27th. This change will allow a business entity to electronically update the physical address, email, and phone number.
Effective
June 01st , 2022
Effective:
June 24th , 2022
June 24
Pennsylvania
Pennsylvania to Add Non-Uniform Questions
Effective July 15, 2022, Pennsylvania will add a non-uniform question for resident individual initial and renewal applications and two optional questions for residents and nonresidents licensing and renewals.
Released
June 01st , 2022
Effective:
August 02nd , 2022
August 02
Massachusetts
Massachusetts 2022 Company Appointment Renewal Dates
(UPDATED) The renewal period is August 2, 2022 - August 31, 2022. The termination deadline for appointments that one does not wish to renew is June 30th, 2022. A 15 day backdating period is allowed. The fee is $75 for both businesses and individuals.
Note: This announcement originally stated the renewal period started on July 19th. This was updated to July 21st on July 18th.
Effective
May 31st , 2022
Effective:
July 31st , 2022
July 31
Hawaii
Hawaii Includes Marine Transportation, Personal Lines, Surety, and Vehicle LOAs when License Includes Property and Casualty
Resident and nonresident producer licenses that had the LOAs previously separated will no longer see those LOAs (MA, PL, SU, and VE) and only see P&C. There will be no changes to LOAs listed on licenses that have only PL or SU LOAs.
Released
May 27th , 2022
Effective:
July 08th , 2022
July 08
Texas
Texas 2021 Disallowed Expenses Data Call
A mandatory "disallowed expenses" data call for the 2021 calendar year was issued by Texas. This call applies to licensed companies that wrote premium for: fire, allied lines, private crop, farm owners multiple peril, homeowners multiple peril, commercial multiple peril, inland marine, medical malpractice, other general liability, products liability, private passenger automobile, commercial automobile, fidelity, or surety. The document must be filled out and returned by July 8.
Effective
May 27th , 2022
Effective:
May 27th , 2022
May 27
South Carolina
South Carolina Adds CE Exemption
Insurance Producers with 25 years or more of licensure and are 65 years or older are exempt. If a portion of this licensure was in a different state, appropriate documentation from that state must be provided. .
Effective
May 27th , 2022
Effective:
May 27th , 2022
May 27
New Mexico
New Mexico Reviews its Resident Licensing Requirements
For one to be a resident of the state, one must maintain a principal home in New Mexico and cannot hold a resident license in a different state. If the OSI has reason to believe that this requirement is not being met, additional documentation will be required to prove residency.
Effective
May 26th , 2022
Effective:
May 26th , 2022
May 26
Kentucky
Kentucky Clarifies Statue Regarding Automobile Policy
Kansas noted that there some incorrect interpretations of KRS 304.39-060(6) regarding automobile policy. The statue says, " “Every insurance company when issuing an automobile policy to a resident of this Commonwealth must inform the buyer in writing in a form to be prescribed by the insurance commissioner of his or her right to reject the limitations of the tort rights and liabilities under this subtitle in the manner provided in subsections (4) and (7) of this section.” It was clarified that issuing means that the form must be delivered to the insured at 1.) the initial issuance of a new policy, but not at subsequent renewals of that policy; and 2.) at the addition of any drivers to a policy.
Effective
May 26th , 2022
Effective:
May 27th , 2022
May 27
N/A
NIPR Scheduled Maintenance
NIPR production will be down for maintenance from Friday evening, May 27th, until Saturday evening.
Effective
May 25th , 2022
Effective:
July 02nd , 2022
July 02
New Hampshire
Update to New Hampshire Third Party Admin Requirements
Effective July 2, 2022 NH will require a Third Party Administrator to include contact information for a designated agent in New Hampshire for service of process with certificate application for both residents and nonresidents.
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).