Search
 

Summer Months May Mean Heavy Legislative Lifting for NRRA Preparation

The Non-Admitted and Reinsurance Reform Act, which brings change for Floridas surplus lines marketplace with regard to tax allocation, surplus lines insurer eligibility requirements, and more, is set to take effect July 21.

Florida’s legislative session has brought a barrage of bills that include serious reform and change for much of Florida’s insurance industry. Clipping closely at the heels of the 2011 session is the deadline for the Non-Admitted and Reinsurance Reform Act (NRRA), which brings change for Florida’s surplus lines marketplace with regard to tax allocation, surplus lines insurer eligibility requirements, and more.  

The NRRA was signed into law by President Barack Obama on July 21, 2010, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, which includes language to standardize the reporting, allocation and payment of non-admitted insurance premium tax on multi-state risks, is set to take effect July 21. 

The NRRA grants the insured’s home state exclusive authority to regulate and tax surplus lines insurance that includes multi-jurisdictional boundaries. Additionally, the NRRA bill provides states the ability to enter into an agreement to collect and share premium taxes for these multi-state risks.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

propertycasualty360

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2025 ALM Global, LLC. All Rights Reserved.