The majority of legislatures around the country have closed up shop for the year, and, for the most part, the property-casualty insurance industry fared pretty well. This year saw more than 1,000 new state legislators finding their ways around state capitols, and educating this influx of freshmen on insurance matters was paramount to the industry. Perhaps a benefit reaped from the change in state legislative landscape this year was that the property-casualty insurance industry celebrated some fairly significant victories on the issues of rate modernization, tort reform and underwriting freedom.

While budget deficits and social issues received much of the attention of statewide media, the biggest news coming out of the states this year for property-casualty insurers concerned the Dodd-Frank Wall Street Reform and Consumer Protection Act—and a section within it known as the Nonadmitted and Reinsurance Reform Act (NRRA).

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