South Dakota Adjusts Two Rules Affecting Continuing Education
SD | The South Dakota Division of Insurance has adjusted two rules affecting continuing education. Both rule changes become effective on January 1, 2025. Click here for more information.
Maryland Issues Bulletin Concerning Pet Insurance
MD | The Maryland Insurance Administration has issued a bulletin informing property and casualty insurance carriers and producers about new regulations for pet insurance sales, effective January 1, 2025. The law, codified as Title 19, Subtitle 11 of the Insurance Article, requires pet insurers to provide specific disclosures to consumers, including information on policy exclusions, […]
California Announces Three New Annuity Suitability – “Best Interest Standard” in Annuity Transactions Four-Hour Course Curricula are Available
CA | Effective January 1, 2025, a new law will require new annuity four-hour training. This new law amends California Insurance Code section 10509.915 and it includes the new Insurance Code section 10509.919 in SB 263, which makes the existing Article 9 “Suitability Requirements for Annuity Transactions,” Sections 10509.910 through 10509.918, applicable to recommendations and […]
Alaska Issues Notice of Public Meeting
AK | The Alaska Division of Insurance has issued a Notice that the Workers’ Compensation Review and Advisory Committee’s first quarterly meeting of 2025 will be held January 16th at 10:00 am at the Anchorage Marriott Downtown, 820 W 7th Ave, Anchorage, Alaska (907-279-8000). The purpose of the meeting is to discuss matters relating to […]
Utah Issues Bulletin Regarding Requirements for Suitability in Annuity Transactions
UT | The Utah Insurance Department has issued Bulletin 2024-12 to provide guidance and to reinforce the requirements for suitability in annuity transactions as stated in Utah Admin. Code R590-230, Suitability in Annuity Transactions. Click here for more information.
Illinois Issues Company Bulletin Regarding Autism Spectrum Disorder Coverage
IL | The Illinois Department of Insurance has issued Company Bulletin 2024-17. The purpose of this Bulletin is to provide guidance to remind issuers that Public Act 102-0322, which took effect January 1, 2022, states: “An insurer may not deny or refuse to provide otherwise covered services under a group or individual policy of accident […]
Illinois Issues Company Bulletin Regarding Required Coverage Without Cost-Sharing for HIV Pre-Exposure and Post-Exposure Prophylaxis
IL | The Illinois Department of Insurance has issued Company Bulletin 2024-18. This Company Bulletin provides guidance and a reminder that all individual and group policies of accident and health insurance, HMO health care plans, and voluntary health services plans that are amended, delivered, issued, or renewed in Illinois on or after January 1, 2024 […]
Pennsylvania Issues Surplus Lines Agents Gross Premiums Tax Report as of December 31, 2024
PA | Each year at this time all surplus lines licensees (resident and non-resident) licensed in the Commonwealth of Pennsylvania are reminded to file and remit the collected gross premium surplus lines tax for the preceding calendar year. The surplus lines tax levied by the Commonwealth of Pennsylvania is three percent (3%) of taxable gross […]
New Mexico Issues Order Authorizing Remote Audits by Broker-Dealers of Single Agent Branch Offices for 2025 Annual Audits
NM | The New Mexico Regulation and Licensing Department Securities Division has issued Order No: 24-12-03. The order temporarily authorizes broker-dealers to conduct audits of single agent branch offices through remote means provided certain conditions are met. Click here for more information.
California Will Implement a New Premium Tax Processing System
CA | The California Department of Insurance (CDI) will be implementing a new Premium Tax Processing System (PTPS) portal for processing Insurance (Premium) Tax forms online. Under the authority of California Revenue and Taxation Code section 12302 and California Insurance Code section 1775, Admitted Insurers and Surplus Line Brokers are required to file Premium Tax […]