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NIMA: Streamlining the reporting and uniformity of surplus lines insurance through technology

In todays tax and regulatory environment, innovation is the name of the game.

By Merle Scheiber | Updated on November 19, 2014

In today’s tax and regulatory environment, innovation is the name of the game.  Congress recognized that when it passed the Nonadmitted and Reinsurance Reform Act (NRRA) four years ago.  Two years later, the Non-Admitted Insurance Multi-State Association (NIMA) was created and today, its eight member states are seeing (enjoying) the enhanced revenue and greater savings efficiencies that our Surplus Lines Clearinghouse SLIP system has made a reality.

Yet, there are those with ulterior motives, who would disparage this growing success story.  In Arthur Postal’s Legislative update: Taxation Uniformity remains critical issue (September 15, 2014 on PropertyCasualty360.com) the National Association of Surplus Lines Offices (NAPSLO) continued its role as a peddler of misinformation, using data that its own leadership has already been told is incomplete and incorrect.

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