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.
April 18
Nebraska On April 18th 2023, the Nebraska Unicameral passed LB296, which created a regulatory structure for the sale of pet insurance in the state. To help ease entry into selling pet insurance, the Nebraska Department of Insurance (NDOI) created a new pet insurance license. See attachment for full details.
June 30
Massachusetts Massachusetts 2023 Insurance Producer Company Appointment Renewals Invoice Renewal Period** **July 19, 2023 – August 31, 2023 Termination Due Date June 30, 2023 \*Note: 15 day backdating period allowed.
May 21
Florida Effective May 21, 2023, Florida updates its emergency adjuster ruling. See attached.
May 11
South Dakota South Dakota Division of Insurance posted its Spring 2023 Newsletter. See attachment.
June 09
Effective June 9, 2023, FINRA will end remote exams. See attachment for full details.
May 11
Georgia Georgia sends notice regarding proposed education process changes. See attachment for full details.
January 01
Tennessee Tennessee has adopted IAR CE with a January 1, 2024, effective date.
June 09
Rhode Island Effective June 9, 2023, Rhode Island will defer all Emergency Class applications. All No Home State applications containing Emergency Adjuster and Emergency Motor Vehicle Appraisers will be deferred to the state for review.
June 09
Virginia Effective June 9, 2023, Virginia will add new validation to prevent an amendment transaction if the applicant’s license is in the renewal period. The applicant must first renew the license and then submit the amendment transaction.
May 01
West Virginia Effective May 1, 2023, West Virginia Individual Adjusters will now receive a $50 Biannual Renewal Fee for any adjusters with an expiration date on or after July 31, 2023.
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