Search
 

Large States’ Avoidance Of SLIMPACT May Doom Compact

In the wake of New York’s decision not to join a nationwide compact on sharing of surplus-lines taxes, industry officials believe such compacts may be doomed.

By Arthur D. Postal | Updated on April 11, 2011

In the wake of New York’s decision not to join a nationwide compact on sharing of surplus-lines taxes, industry officials believe such compacts may be doomed.

Richard Bouhan, executive director of the National Association of Professional Surplus Lines Offices, voices such concern after New York passed legislation to bring its laws into compliance with the Nonadmitted and Reinsurance Reform Act passed by Congress last July. The New York legislation, recently signed into law, removes provisions that would have authorized the state to join a tax compact.

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

© 2024 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.

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 © 2024 ALM Global, LLC. All Rights Reserved.