NAIC moves to implement reforms for surplus lines

10/12/2010 | Insurance Journal

The National Association of Insurance Commissioners has formed a task force to develop an aggressive implementation plan for certain provisions in the financial-reform law that seek to modernize regulation and taxation systems for surplus-lines carriers. The group says it intends to submit its proposal during the association's meeting next week. State legislatures are expected to adopt NAIC's recommendations by July 21, 2011, "a daunting task to accomplish in the time frame allowed," said Daniel Maher of the Excess Line Association of New York.

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