The effort to modernize regulations on surplus lines found success earlier this year as Maryland is set to update broker fee caps. Through a series of negotiations, legislation was passed that will raise the cap on the personal line side from $100 to $200, and the commercial fee cap will move up from $250 to $500 or 7%, whichever is greater. (Credit: create jobs 51) The effort to modernize regulations on surplus lines found success earlier this year as Maryland is set to update broker fee caps. Through a series of negotiations, legislation was passed that will raise the cap on the personal line side from $100 to $200, and the commercial fee cap will move up from $250 to $500 or 7%, whichever is greater. (Credit: create jobs 51)

Uniformity in regulations among the states is among the most pressing issues on the 2022 agenda for the Wholesale & Specialty Insurance Association (WSIA) Legislative Committee, which is also closely watching lawmakers' moves around flood insurance and coverage issues for cannabis–touching entities.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

Regulation/Legislation