NU Online News Service, June 17, 2:58 p.m. EDT
Mississippi joins Florida and Hawaii in signing the Nonadmitted Insurance Multistate Agreement (NIMA) to implement the Nonadmitted and Reinsurance Reform Act of 2010—a surplus-lines-related component of the Dodd-Frank financial-services reform bill.
The signing of this agreement, says Insurance Commissioner Mike Chaney, protects up to $16 million in annual premium taxes, of which $10 million goes to the Mississippi Windstorm Underwriting Assoc., or Wind Pool, the state's last-resort insurer.
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