Leader's Edge Magazine

May 2013 Issue Now Online

Fully Exposed
Medical and scientific breakthroughs promise healthier lives while threatening privacy and ethical issues.

M&A Annual Report: The Year That Defied Gravity
Federal Policy Fuels Brokerage M&A Engine, but Strangles Small Group Benefit Firms. 

Surplus Lines Reform

In July 2010, The Council-initiated surplus lines provisions of the House-passed Non-admitted and Reinsurance Reform Act were signed into law as part of the larger financial regulatory overhaul included in the Dodd-Frank Act. The law is designed to simplify regulations governing the surplus lines insurance market by consolidating regulatory oversight into the home state of the insured. 

The Surplus Lines Reform Information Center will evolve along with upcoming regulatory clarity, and we will keep you posted of significant developments as they occur.  If you have any questions on these materials, please contact Joel Wood at joel.wood@ciab.com.    

Recent News & Updates

•       Steptoe & Johnson Memo: NIMA (June 26, 2012)
•  Updated! NRRA Compliance Guide  (November 12, 2012) 
•  Updated! Jurisdictions by Surplus Lines Tax Regime Type  (August 27, 2012)
•  Updated! State Surplus Lines Premium Tax Legislation Chart (April 30, 2013) 

Background Information 

•  Webcast Download: Council Addresses Producer Licensing, Surplus Lines at Insurance Regulation Modernization Conference (Dec 09, 2011)
• Council Expresses Continued Frustration Over NRRA (Nov 18, 2011)
•  Statement to the House Financial Services Subcommittee (Nov 16, 2011)
• Surplus Lines Update (Nov 7, 2011)
• Recent Developments on Surplus Lines Reform Implementation (Oct 27, 2011)
• Letters to States Regarding Compliance with the NRRA  (Aug 15, 2011)
•  NRRA Implementation FAQs (Aug 3, 2011)  
• Surplus Lines Reform Effective July 21; Compliance Resources Available (Jul 15, 2011)
•  Webinar Recording: Implementing Surplus Lines Reform  (Jun 29, 2011)
•  Open Letter to Insurance Regulators and Legislators (Nov 18, 2010)
•  Description of Surplus Lines Provisions (Jul 15, 2010)
•  Senate Passes Financial Services Regulatory Reform Bill (May 21, 2010)