Arkansas Insurance Department: Insurers Can Now Use Their Own Forms for Life Policy Replacements
AR| The Arkansas Insurance Department’s Bulletin No. 10-2025, issued August 4, 2025, rescinds Bulletin 8-2009 and advises that life insurers are no longer required to use the department’s specific replacement memorandum format when replacing life insurance policies or annuity contracts. Under the Life Insurance and Annuities Replacement Rule (23 CAR pt. 128), replacing producers must […]
Florida Surplus Lines Service Office Sends Notification of Two Surplus Lines Insurers Currently Out of Compliance
FL| The Florida Surplus Lines Service Office (FSLSO) has announced that two surplus lines insurers are out of compliance with Florida Statute 626.931. Continued non-compliance may lead to the withdrawal of these carriers’ eligibility to transact surplus lines business in Florida and potential referral to the Office of Insurance Regulation (OIR) for removal from the […]
Pennsylvania Insurance Department Announces Revised Financial Examination Rates Effective August 2, 2025
PA| Notice 2025-05 from the Pennsylvania Insurance Department announcing updated per diem charges for financial examinations, effective August 2, 2025. These charges are billed in accordance with Pennsylvania regulations and supersede the previous rates published in June 2024. The new per diem rates for various examination roles are as follows: Click here to see PA […]
Pennsylvania Insurance Department Publishes Updated Fees for Market Conduct Examinations
PA| The Pennsylvania Insurance Department has issued Notice 2025-06 announcing an updated schedule of per diem charges for market conduct examinations, effective August 2, 2025, pursuant to section 907 of The Insurance Department Act of 1921 and 31 Pa. Code § 12.4. This schedule supersedes the notice from June 29, 2024, and will remain in […]
Michigan Department of Insurance and Financial Services Releases August 2025 Update to Fire Insurance Withholding Program List
MI| The Aug 1, 2025, Edition 182, is the Updated List of Michigan Municipalities Participating in the Fire Insurance Withholding Program. The list, published by the Michigan Department of Insurance and Financial Services, shows which cities, townships, and villages are authorized to withhold a portion of certain insurance settlements after fire or specific property losses, […]
Alabama Insurance Department Mandates All Filings Go Digital via SERFFSM, Effective Immediately
AL| The Alabama Department of Insurance Bulletin 2025-04, outlines the updated requirements for all insurance-related rate and form filings in Alabama, effective August 1, 2025. The Bulletin consolidates and replaces several prior bulletins, maintaining most historical requirements but clarifying that all filings must be submitted electronically via SERFFSM with fees paid by electronic funds transfer […]
Alaska Division of Insurance Updates Eligible Surplus Lines Insurer List – New Approval Added
AK| Alaska Division of Insurance Bulletin B 25-06 (effective August 1, 2025), lists the two statuses to identify eligible foreign surplus lines insurers, and updates the white list. And list to changes to the White List. Categories Allowed on Alaska’s “White List” Changes to the List: Click here to see AK Bulletin B 25-06 with White […]
New York Issues 2025 Maximum Reserve and Nonforfeiture Interest Rates for Life Insurance
NY| The August 1, 2025 Industry Letter, from the New York State Department of Financial Services (DFS), outlines the maximum reserve valuation and maximum life policy nonforfeiture interest rates for life insurance products in 2025, as mandated by Sections 4217, 4218, and 4221(k) of the New York Insurance Law. The document is intended for all […]
Ohio Reminds Business Entities to Make Sure Their Affiliations are Current
OH| The Ohio Department of Insurance issued the following reminder in the July Issue of the ODI Monthly Insurance Review. Compliance Reminder: Business Entities Must Ensure Affiliations Are Current System enhancements are coming soon to the Ohio Department of Insurance’s licensing platform, adding more self-service features. To avoid disruptions, insurance agencies, also referred to as […]
New Michigan Insurance Update: Higher Work Loss & Survivors’ Loss Benefits Announced for October 2025
MI| Bulletin 2025-18-INS, from the Michigan Department of Insurance and Financial Services announces the annual adjustment of the maximum work loss and survivors’ loss benefits under personal protection insurance policies, effective October 1, 2025, through September 30, 2026, raising the maximum payable to $7,201 per 30-day period to reflect cost-of-living changes. This adjustment applies only […]