Regulatory Updates

Effective September 15th, 2023 New Hampshire will require all Nonresident adjuster applicants to answer questions by providing the name of their employer.

Pursuant to Hawaii Revised Statutes (“HRS”)§ 431:9-201(b), Insurance Commissioner Gordon I. Ito is issuing this declaration authorizing temporary assistance of nonresident independent adjusters due to fires across the State. The Insurance Commissioner has decided to allow nonresident independent adjusters to operate in the State temporarily to help handle the amount of work due to the fires. The Insurance Commissioner wants to ensure that adjusters and insurance companies can and will timely respond to property owners’ needs.  See attachment for full details.

Effective August 9, 2023 Florida strengthened the MyProfile log-in and account creation process.  See attachment for full details.

On August 8, 2023, Delaware reissued a bulletin regarding false or misleading statements concerning how insurance rates are set in Delaware.  See attachment for full details.

On August 7, 2023, New Hampshire issued a bulletin laying out notice required when a producer is terminated for cause.   See attachment for full details.

Effective September 15, 2023, Mississippi will required the following non uniform questions for renewals.

Have you or any business in which you are or were an agent, owner, partner, officer or director of the business entity, or member or manager of a limited liability company, ever had an insurance agency contract or any other business relationship with an insurance company terminated for any alleged misconduct in any U.S jurisdiction?

Effective September 1, 2023, Oklahoma has adopted the Annuity Suitability and Best Interest Standard Model Act.  See attachment for full details.

Effective August 1st, 2023, Georgia will include Pet Insurance in the types of insurance able to be sold by agents holding Life, Accident and Sickness, Property and Casualty, or Personal Lines.  See attachment for full detail. 

Effective July 1, 2023, South Carolina has added a late appointment renewal fee of $250 for residents and nonresidents.

Effective September 15, 2023, new validations will be added for Hawaii to ensure underlying license and line of authority requirements are met.

Life Settlement Broker must have a current license for at least one year as an Insurance Producer with a line of authority of ‘Life’ in Hawaii.

Applicants renewing for the following license classes must hold an active Insurance Producer license in Hawaii. Reinsurance Intermediary Broker  Reinsurance Intermediary Manager  Managing General Agent