Regulatory Updates

The Illinois DOI has announced a grace period to implement changes made to 50 Illinois Administrative Code 3120, which includes new supervisory requirements for insurers to ensure producer compliance and training requirements for producers selling annuities. Companies are expected to comply by August 1, 2023.

Effective March 14th, 2023, Maine will be adding the Limited - Home State line of authority to Producer Limited Nonresident license class.

Nebraska has announced their 2023 Company Appointment Renewals dates. The Renewal period is May 1, 2023 to July 31st, 2023. The termination deadline for any appointment not to be renewed is April 25th, 2023.

Effective March 10th, 2023, New York removed the Non-Uniform Background Question previously added on January 13, 2023.

Effective April 14th, 2023, Iowa will make the Officer/Director field mandatory for all initial Business Entity Applications.

Effective April 14, 2023, Missouri will convert existing None LOA descriptions for Surplus Lines and Motor Vehicle Extended Service Contract to match license classes. 

Effective April 14, 2023, Kentucky will require the NPN for Appointment and Termination transactions.

New Jersey has released their 2023 appointment renewal dates. Dates for the appointment renewals are 4/1/2023 until 6/5/2023. The termination deadline is 3/27/2023

New Hampshire has made several updates to their CE requirements.

Effective April 14, 2023, Illinois will be offering No Home State for initial licensing and renewals. In addition, Illinois will be adding the following license classes for electronic processing. Portable Electronics Limited Line License Premium Finance Company Third Party Administrator Third Party Prescription Program Employee Leasing Company Viatical Settlement Broker Public Adjuster