Category: NAIC

Florida Office of Insurance Regulation General Counsel Steve Parton Named to New NAIC Surplus Lines Clearinghouse Implementation Subgroup; First Meeting Scheduled for February 1

Jan 26, 2011

Established at the January 6, 2011 meeting of the National Association of Insurance Commissioners (“NAIC”) Surplus Lines Implementation Task Force (“Task Force”) to focus on the operational details needed to create a national clearinghouse to implement the proposed Nonadmitted Insurance …

National Association of Insurance Commissioners Joint Executive Committee/Plenary Adopts Nonadmitted Insurance Multistate Agreement, Holding Company Model Regulations, Reinsurance Collateral Recommendations at December 16, 2010 Meeting

Dec 21, 2010

  The National Association of Insurance Commissioners’ (“NAIC”) Joint Executive Committee/Plenary (“Plenary”) adopted the Nonadmitted Insurance Multistate Agreement (“NIMA”) along with other significant model regulations and recommendations during a December 16, 2010 teleconference.   NIMA had been approved “in concept” by …

National Association of Insurance Commissioners Retained Asset Accounts Working Group Updates Disclosure Bulletin for Executive Committee Approval on December 16

Dec 14, 2010

After adopting several technical amendments to a revised version of the Retained Asset Accounts Bulletin, (“Bulletin”) the National Association of Insurance Commissioners (“NAIC”) Retained Asset Accounts Working Group (“Working Group”) approved a final draft on December 13, 2010.  Originally created …

National Association of Insurance Commissioners Surplus Lines Implementation Task Force Amends, Approves Nonadmitted Insurance Multistate Agreement (NIMA); NAIC Executive Committee To Vote December 16

Dec 9, 2010

  After approving the “concept” of the Nonadmitted Insurance Multistate Agreement (“NIMA”) during its most recent meeting, the National Association of Insurance Commissioners (“NAIC”) Surplus Lines Implementation Task Force  (“Task Force”) amended and approved NIMA yesterday, December 8, 2010. Meeting …