Regulatory Updates

Effective October 1, 2025, North Carolina updated nonresident licensing rules requiring Pharmacy Benefits Managers (PBMs) to become licensed.  - A person or organization must obtain a license to operate as a pharmacy benefits manager. - To submit a complete application for initial or renewal PBM licensure, the following items must be filed in order: -  A transmittal form; - A completed pharmacy benefits application form; - Biographical form(s) completed by principal officers; - All of the PBM's organizational documents, including any articles of incorporation, articles of association, partnership agreement, trade name certificate, or trust agreement, any other applicable documents, and all amendments to these documents; - The bylaws, rules, regulations, or similar documents regulating the PBM's internal affairs; - Annual financial statements or reports for the two most recent years that prove that the applicant is solvent and any other information the Commissioner may require to review the applicant's current financial condition; - A general description of the business operations, including information on staffing levels and activities proposed in North Carolina and nationwide; - A power of attorney duly executed by the PBM, if not domiciled in North Carolina, appointing the Commissioner as attorney for the PBM in and for North Carolina, upon whom process in any legal action or proceeding against the PBM on a cause of action arising in North Carolina may be served; and - Evidence of maintenance of a fidelity bond, errors and omissions liability insurance, or other security. - The description discussed above must provide details setting forth the PBM's capability for providing a sufficient number of experienced and qualified personnel in the areas of claims processing and record keeping. - Each applicant must make copies of all contracts with insurers or other persons using the PBM's services available for inspection. - An applicant or PBM must notify the Commissioner of any material modification within 30 business days of a change. Pharmacy Benefit Manager - Initial application fee: $2,000.00 - Annual renewal fee: $1,500.00 For more information on PBM licensing, visit NC DOI

Posted October 2, 2025, Georgia, has reached out to the Florida Surplus Lines Service Office (FSLSO) Slip+ team to conduct compliance review of Georgia-licensed surplus lines brokers. Compliance reviews will verify that:  - All policies, endorsements, and cancellations are properly filed.  - Premium taxes are accurately calculated, reported, and paid.  - Broker records align with Georgia surplus lines laws and regulations. Please see the attachment for more information.

Alabama announces the company appointment renewal invoices will be available for payment from January 6, 2026 - March 1, 2026.  The termination deadline is December 31, 2025. The late renewal windows are as follows:

- March 2, 2026 - March 31, 2026  - April 1, 2026 - April 30, 2026  - May 1, 2026 - May 31, 2026 Please see the attachment for fee information.

Posted October 3, 2025, New York added a new company to the list of Excess & Surplus lines (E&S) insurers, maintained by the Excess Line Association of New York (ELANY). Please see the attachment for more information.

Effective September 30, 2025, Ohio passed the biannually budgeting bill. Within this bill, language related to insurance was included. For more information on these language updates, visit Ohio's Budget Bill.

Effective October 1, 2025, Idaho’s Surplus Line Association Broker Portal went live to process filling and payments. Please see the attachment for more information.

Illinois announces its company appointment renewal period to be November 3, 2025 - January 2, 2026.

Posted October 3, 2025, Louisiana individual appointment renewal invoices will be available for payment from December 1, 2025, to January 5, 2026. The termination deadline is November 25, 2025.

$35 per Individual appointment renewal

Effective September 15, 2025, Washington now allows a resident and non-resident licensing for a pharmacy benefit manager (PBM). Requirements are below: - PBM's must register with the Office of the Insurance Commissioner (OIC) and annually renew the registration. - A PBM is a subtype of health care benefit managers (HCBMs). - A "PBM" is a person who contracts with pharmacies on behalf of a health carrier, employee benefits program, or Medicaid managed care program to: - Process claims for prescription drugs or medical supplies or provide retail network management for pharmacies or pharmacists; - Pay pharmacies or pharmacists for prescription drugs or medical supplies; - Negotiate rebates, discounts, or other price concessions with manufacturers for drugs paid for or procured as discussed in WA ST 48.200.020(14)(a); - Establish or manage pharmacy networks; or - Make credentialing determinations. - PBMs must comply with the requirements set forth in: - WA ST 48.200.030 - WA ST 48.200.050 Health Care Benefit Managers; and - WA ST 48.200.220 - WA ST 48.200.320 (PBM requirements).

Effective November 14, 2025, New Jersey will be adding two new license classes for electronic processing

- Pharmacy Benefits Manager, License and Renewal fee - $10,000 - Pharmacy Services Administrative Organization, License and Renewal fee - $5,000

These new license classes are for business licenses only and will display on the Producer Database.