California
Update to California Converts to PLMA Standards
This update calls out that with this conversion, specific licenses and license qualifications will be converted to comply with PLMA standards. Current licenses will become inactive on May 27, 2022 and new license types will be added to the record.
License Conversions (Current > New):
- Resident Insurance Producer > Insurance Producer
- Non-Resident Insurance Producer > Insurance Producer
- Resident Personal Lines Broker-Agent or Broker-Agency > Insurance Producer
- Non-Resident Personal Lines Broker-Agent or Broker-Agency > Insurance Producer
License Qualification Conversions (Current > New):
- Life-Only > Life
- Accident and Health > Accident and Health or Sickness
- Variable Contracts > Variable Life and Variable Annuity
- Rental Car > Car Rental
- Property Broker-Agent > Property
- Casualty Broker-Agent > Casualty
- Personal Lines Broker-Agent > Personal Lines
- Travel Agent > Travel
- Registered Administrator > Administrator
See attachment for the original post and more details surrounding the upcoming change. Note that the date this change will come into effect changed from May 23rd to May 27th.
AgentSync Actions
Our compliance experts are constantly searching for and analyzing industry updates.
Their findings are then recorded in the Regulatory Updates section of the Compliance
Library to explain how the update impacts the insurance industry. If a change
impacts an
AgentSync product, this will be highlighted to inform you that the product is being
updated to ensure you remain in compliance.
analyzed
pending
effective
This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
Licensing
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).