NU Online News Service, July 28, 12:00 p.m. EDT
Successful implementation of the federal surplus lines reform law is “threatened” by the patchwork way it is being interpreted by the states, an industry representative told Congress today.
The industry “is increasingly concerned that the Non-admitted and Reinsurance Reform Act (NRRA) is being implemented in many states…in such a way that they'll make things worse—not better—for surplus lines stakeholders,” a representative of the National Association of Professional Surplus Lines Offices (NAPSLO) says in testimony before the Insurance, Housing and Community Subcommittee of the House Financial Services.
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