The effort to modernize regulations on surplus lines found success earlier this year as Maryland is set to update broker fee caps. Through a series of negotiations, legislation was passed that will raise the cap on the personal line side from $100 to $200, and the commercial fee cap will move up from $250 to $500 or 7%, whichever is greater. (Credit: create jobs 51) The effort to modernize regulations on surplus lines found success earlier this year as Maryland is set to update broker fee caps. Through a series of negotiations, legislation was passed that will raise the cap on the personal line side from $100 to $200, and the commercial fee cap will move up from $250 to $500 or 7%, whichever is greater. (Credit: create jobs 51)

Uniformity in regulations among the states is among the most pressing issues on the 2022 agenda for the Wholesale & Specialty Insurance Association (WSIA) Legislative Committee, which is also closely watching lawmakers' moves around flood insurance and coverage issues for cannabis–touching entities.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
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.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

E&S/Specialty Lines
Regulation/Legislation