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NAIC Hears Objections to Proposed Surplus Lines Tax Collection Fix

Regulators' proposed solution to the allocation of surplus lines taxes met industry opposition as regulators worked on a proposal to present to state legislators by the beginning of the year.

By Mark E. Ruquet | Updated on October 26, 2010

NU Online News Service

ORLANDO, Fla.–Regulators’ proposed solution to the allocation of surplus lines taxes met industry opposition as regulators worked on a proposal to present to state legislators by the beginning of the year.

Critics do not believe the proposal will achieve what Congress intended when it passed the Nonadmitted and Reinsurance Reform Act (NRRA) as part of financial reform under the Dodd-Frank Act.

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