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.
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
May 25th , 2022
Effective:
May 27th , 2022
May 27
Kansas
Kansas Upcoming DRLP Changes
Effective May 27, 2022, a DRLP must be entered for Resident License applications for a business entity. This does not apply for Car Rental, Credit, and Portable Electronics and the field should be left blank on the application.
Effective
May 24th , 2022
Effective:
May 24th , 2022
May 24
N/A
NIPR Explains Email Sent Out to Individual Agents
NIPR is deleting all incomplete MYNIPR applications with tonight's release. As a result, these applications will need to be resubmitted.
Effective
May 23rd , 2022
Effective:
June 10th , 2022
June 10
Louisiana
Louisiana Opening Contact Change Requests for Business Entities
This update will allow business entities to electronically update both their business and mailing physical addresses, email, and phone number.
Released
May 23rd , 2022
Effective:
May 23rd , 2022
May 23
Delaware
Delaware Adds to Resident License Residency Requirements
Delaware states the a resident producer now must be a DE resident, or work for a business entity that is licensed to conduct the business of insurance in DE AND maintains a physical location in DE that is open to the public and where business is conducted. A DE postal box cannot be used to establish residency.
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).