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NRRA: Implementation

Since the NRRAs enactment, NAPSLO has worked hard to advocate for the laws proper implementation and fully realize the goals of the federal law.

By Brady R. Kelley | Updated on January 31, 2013

Not long ago, surplus lines brokers apportioned premium, calculated taxes at multiple tax rates and filed separate taxes and payments in every jurisdiction involved in a multi-state insurance risk. The Nonadmitted and Reinsurance Reform Act (NRRA) ushered in a national framework for uniformity and efficiency in the regulation and taxation of the surplus lines industry. 

Home state tax reform has dramatically improved the process and helped to reduce the cost of surplus lines tax compliance within the state-based regulatory system. Since the NRRA’s enactment, NAPSLO has worked hard to advocate for the law’s proper implementation and fully realize the goals of the federal law.

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