MS HB822

Converts insurance licenses and certificates of authority issued by the Mississippi Commissioner of Insurance from annual renewals to perpetual licenses that remain valid until suspended, revoked, surrendered, or forfeited

Requires insurers to pay privilege taxes and fees annually by March 1 to keep licenses in good standing, rather than obtaining new licenses each year

Removes the 12-month expiration periods previously set for different types of insurance companies (life, health, accident, fire, casualty, liability, etc.)

Maintains existing license duration rules for individual insurance producers, limited lines producers, and agents (two-year terms tied to birthday month or May 31 for business entities)

Effective date of July 1, 2022, with existing license holders receiving amended certificates of authority under the new perpetual system