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 06th , 2022
Effective:
July 01st , 2022
July 01
Nevada
Nevada 2022 Company Annual Appointment Renewal Procedure
On July 1st, 2022, Nevada will email the Annual Appointment Renewal Invoice and the Details Appointment List to all insurers.
Effective
April 04th , 2022
Effective:
June 30th , 2022
June 30
Ohio
Ohio Announces 2022 Renewal Procedures
All appointments that are active on June 30, 2022 will be automatically renewed on July 1, 2022. An invoice will then be sent to that company in August. If you would like to terminate an appointment, complete the termination prior to June 30th.
Effective
April 04th , 2022
Effective:
April 04th , 2022
April 04
New Mexico
New Mexico Prohibits Differing Commission Structures for the Sales of Qualified Health Plans
This is in response to other states creating commission structures based on the metal tier of health care plan sold. Incentivizing the sales of certain plans to minimize carrier risk is a violation of the law. Currently, there are no known commission structures of this sort in New Mexico. This warning is for awareness that a $10,000 penalty will be issued per violation.
Effective
April 01st , 2022
Effective:
April 01st , 2022
April 01
Florida
Florida Adjusts where Adjusting Firm Licenses can be Verified
In November 2021, Florida began adjusting firms. These licenses are yet to be displayed in the PDB.
Effective
March 31st , 2022
Effective:
May 27th , 2022
May 27
California
California Converts to PLMA Standards
May 12, 2022, California will be converting existing Producer license class descriptions to meet PLMA standards. This will impact licensing, termination, and renewals for both residents and nonresidents, entities and individuals.
Released
March 31st , 2022
Effective:
March 31st , 2022
March 31
Utah
Utah DOI Relocation
Utah's Department of Insurance is changing location to the Taylorsville State Office Building.
Effective
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
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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).