New NAIC Surplus Lines Reform Implementation Group To Review Guiding Principles Discussion Draft on September 13 Teleconference
Sep 2, 2010
Pursuant to the Nonadmitted and Reinsurance Reform Act in Title V of H.R. 4173, the Dodd-Frank Act of 2010, the National Association of Insurance Commissioners (“NAIC”) has created the new Surplus Lines Implementation Task Force (“SLITF”) that will develop and oversee implementation of state-based solutions addressing mandated surplus lines reform. The executive-level group was formed at a meeting of the Surplus Lines Task Force during the NAIC’s 2010 Summer National Meeting.
The SLITF has scheduled a call on Monday, September 13 at 3:00 p.m. (ET) to consider written comments on the attached discussion draft document, “Guiding Principles for Surplus Lines Reform Implementation.” The discussion draft relates to general regulatory, as well as premium tax issues.
For informational purposes, the SLITF also included the attached document relating to surplus lines multi-state tax allocation methodologies.
The duration of the September 13 call is expected to be two hours. To participate, interested Parties must pre-register at the following Web page: https://services.choruscall.com/client/naic/registration/
Written comments must be submitted to the NAIC no later than Wednesday, September 8 to John Bauer at jbauer@naic.org.
Should you have any questions or comments, please contact Colodny Fass.