Category: Surplus Lines

  Unable to meet a looming November 15, 2011 deadline for the establishment of a Clearinghouse for the collection and distribution of surplus lines premium taxes, representatives of Nonadmitted Insurance Multi-State Agreement (“NIMA”) member states voted in an emergency session …

  The Surplus Lines Insurance Multi-State Compliance Compact (“SLIMPACT”) Commission (“Commission”) met via Webinar on Tuesday, October 11, 2011, to review and discuss proposed changes to its draft bylaws.  The Commission also created two working groups to formulate administrative and …

At its meeting today, October 4, 2011, the Florida Surplus Lines Service Office (“FSLSO”) National Clearinghouse Committee (“Committee”) approved initial drafts of the software licensing and service operations agreements that will be required to operate the Nonadmitted Insurance Multi-State Agreement …

The Surplus Lines Insurance Multi-State Compliance Compact (“SLIMPACT”) Commission (“Commission”) will review its draft bylaws when it meets via Webinar on October 11, 2011. Draft copies of the proposed bylaws are attached for review. During an August 19, 2011 meeting, …

  With little discussion at its meeting today, September 29, 2011, the Florida Surplus Lines Service Office (“FSLSO”) Board of Governors (“Board”) approved an $8.2 million 2012 budget, which includes nearly $2 million for anticipated costs associated with Non-Admitted Insurance …

  Opting to use reserve funds to cover a projected $2.6 million budget deficit instead of raising Florida’s surplus lines service fee, the Florida Surplus Lines Service Office (“FSLSO”) Board of Governors Budget Committee (“Committee”) approved a proposed 2012 budget …

  The Florida Surplus Lines Service Office (“FSLSO”) National Clearinghouse Committee (“Committee”) heard an update today, September 15, 2011, on the status of two pending service contracts to provide Clearinghouse services to the Nonadmitted Insurance Multi-State Agreement (“NIMA”) member states. …

  The Nonadmitted Insurance Multi-State Agreement (“NIMA”) Governing Committee (“Committee”) met via teleconference yesterday, September 13, 2011, during which it voted to approve amendments to the NIMA State Agreement.  The Committee delayed a vote that would authorize the incorporation of …

  The Nonadmitted Insurance Multi-State Agreement (“NIMA”) Governing Committee will hold a conference call today, September 13, 2011 at 3:30pm (ET). The agenda, a copy of which is attached for review, includes a final vote on amendments to the NIMA …

By Crady deGolian, Council of State Governments Currently, out of approximately 215 existing active interstate compacts, each state belongs to 25 different agreements, on average. The use of interstate compacts has evolved considerably throughout the course of American history.   Dating …