Insurance industry feels the impact of surplus-lines law, expert says

03/25/2012 | PropertyCasualty360

The Nonadmitted and Reinsurance Reform Act has resulted in a more efficient regulatory system for the surplus-lines insurance sector, says Brady Kelley, executive director of the National Association of Professional Surplus Lines Offices. Greater efficiency in the marketplace could lead to reduced compliance costs and premiums for consumers, Kelley said. The law, however, has not resulted in a uniform interstate tax agreement as lawmakers intended, he said.

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