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.
March 31st , 2022
Effective:
July 01st , 2022
July 01
Georgia
Georgia Implements Tiered Fine Schedule for those Selling without a License
Beginning July 1st, any person or entity that is selling, soliciting, or negotiating insurance without a license will be subject to a new tiered schedule. The schedule goes as followed: 1st policy = $100, 2nd policy = $500, 3rd policy = $1,000, 4th Policy = $1,500, 5th Policy = $2,000, and 6th Policy and up will be $5,000 each.
Effective
March 31st , 2022
Effective:
April 01st , 2022
April 01
Virginia
Virginia Updates Late Renewals and Reinstatements
On April 1, 2022, Virginia will be determining if a license is eligible for a late renewal or reinstatement by the authority status date for that producer. A licensee may have a late renewal or submission of a reinstatement on both their resident and nonresident license for up to one year after the LOA status date.
Released
March 30th , 2022
Effective:
March 30th , 2022
March 30
Georgia
Georgia Issues a Reminder on Surplus Lines Affidavits and Due Dates
On January 1, 2021, Georgia changed their tax filing and payment process. The date for affidavits and payments is 45 days after the end of the calendar quarter. The date this is due will be based on when the policy premium transaction was received.
Effective
March 30th , 2022
Effective:
July 01st , 2022
July 01
South Dakota
SD to Allow Producers Holding Other LOAs to Sell Travel
Effective July 1, 2022, South Dakota has added language to allow producers holding other lines of authority to sell travel and does not require a P&C producer to be appointed.
Released
March 29th , 2022
Effective:
March 29th , 2022
March 29
Washington
Washington Announces Adjuster Line of Authority Updates
On March 11, 2022, Washington released an update on the "No Authority Required" LOA assignment being removed from Washington Adjuster license classes: Independent Adjuster, Public Adjuster, and Crop Adjuster. They released an update that noted this will now impact both individual and firm entity types.
Effective
March 29th , 2022
Effective:
March 30th , 2022
March 30
Massachusetts
Massachusetts Deletes Invalid Appointments
Some appointments were wrongly added when Massachusetts converted to state based systems. These appointments will be deleted on March 30th.
Effective
March 28th , 2022
Effective:
March 28th , 2022
March 28
Colorado
Colorado to Remove Line of Authority: Attorney Title
Effective today, Colorado is removing the Attorney Title line of authority. This offering is available for resident and Nonresident license applications.
Released
March 28th , 2022
Effective:
April 15th , 2022
April 15
Connecticut
Connecticut Updates to MVPD Appraiser License
This update is a date change from a previous announcement. CT will now move their MVPD Appraiser license to a non-adjuster license class effective April 15, 2022.
Effective
March 22nd , 2022
Effective:
March 22nd , 2022
March 22
New Mexico
New Mexico Adds Annuity Training Requirement
Producers who transact annuity products must now complete a one time, four hour CE credit annuity training course to comply with the insurer's requirements.
Effective
March 22nd , 2022
Effective:
March 22nd , 2022
March 22
North Carolina
North Carolina Renewal Update
North Carolina does not require a renewal fee for Nonresident Licenses IF the producer's Resident License if active. Currently, North Carolina is reviewing and cancelling all nonresident Licenses that do not have an active home state license. Those that do have an active home state license will see the expiration date on their Nonresident Insurance Producer Licenses set to March 31, 2024.
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
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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).