Regulatory Updates

The Missouri Department of Commerce & Insurance issued Insurance Bulletin 23-04, Reporting Cybersecurity Events to the Department of Commerce & Insurance. The bulletin addresses inquiries the department received regarding notification requirements in the event of a cybersecurity event.

The Illinois Department of Financial & Professional Regulation Division of Financial Institutions issued a consent order against a company that purported to provide escrow services in the state without the proper authority from the department.

The Citrus County, Fla., clerk sent a public notice reminding recording entities that beginning Jan. 1, 2024, certain documents recorded in the official records must include the post office address of each witness in addition to the witness’ name.

The Financial Crimes Enforcement Network updated its Beneficial Ownership Information FAQs to include new questions about the reporting process, reporting companies, beneficial owners, company applicants, reporting requirements, initial reports, and reporting company exemptions.

The Wisconsin Office of the Commissioner of Insurance issued a bulletin on Wisconsin Agent Appointment Renewal Invoices for 2023 for all insurance companies with Wisconsin agent appointments.

The Oklahoma Insurance Department announced the relocation of its Tulsa office location to an upgraded facility.

The New York State Department of Financial Services adopted amendments to its cybersecurity regulations. The amendments will mandate new controls, require more regular risk assessments and update notification requirements.

Mississippi Commissioner of Insurance and State Fire Marshal Mike Chaney appointed a deputy commissioner of the Mississippi Insurance Department.

The Texas Department of Insurance will hold a hearing on changes to the Basic Manual of Rules, Rates and Forms for the Writing of Title Insurance in the State of Texas on Nov. 15. The proposed changes will update, correct and clarify rules and forms suggested by the Texas Land Title Association and the department.

The Ohio Department of Insurance reminded agents and agencies that annual filings of their reviews for the 2023 filing period (Sept. 1, 2022- Aug. 31, 2023) are due by Jan. 15, 2024.