In Memory of Eugene J. Eisenmann, NAPSLO Past President

Over the past weekend the NAPSLO family lost one of its past presidents, Eugene J. Eisenmann. Gene served as NAPSLO President from 1994 to 1995 and was on the NAPSLO Board from 1990 to 1996.

After serving in the industry for many years Gene had recently served as a consultant and Vice Chairman at tKg and advisor to AmWINS as well as other wholesalers.

 Previously he served as Chairman Emeritus of Colemont Insurance Brokers prior to its sale to AmWINS. In his early days in the industry he worked for Stewart Smith Southwest, Inc. before founding HEATH Insurance Brokers, Inc. where he served as President and later Chairman following the renaming of the firm to Colemont in 2004.

In addition to serving on the NAPSLO Board, Gene served as President of the Texas Surplus Lines Association and had been a Director and Chairman of the Surplus Lines Stamping Office of Texas.

 He is survived by his wife Denise, three sons, a daughter and many grandchildren. At Gene’s request, services will be limited to family. At the family’s request, donations in Gene’s name can be made to the Prostate Cancer Foundation at: www.pcf.org.

 Gene was a wonderful human being. To know Gene was to love him. A first class businessman who rose from a humble background to the pinnacle of our industry, he never forgot where he came from. Gene was that rare individual who could get results while never losing sight of the human side of our business.

Texas Legislation may affect Nonadmitted Captive Insurers

Texas Senate Bill 734, legislation designed to draw back to Texas some of the captive companies affiliated with domestic corporations in the state, may have some effects for nonadmitted captives operating there.  In addition to the potential for additional companies to form captives, the Texas Comptroller has published a draft regulation (34 TAC Sec.3.835) that would provide for an unauthorized insurance premium tax for nonadmitted captive insurers.  NAPSLO members can view the full text of SB 734 through the StateNet portal on the NAPSLO website.

Alabama revises bulletin regarding Outline of Coverage and Checklist Forms

The Alabama Department of Insurance has revised Bulletin 2013-02 to remove a requirement that an insured sign Outline of Coverage and Checklist forms required by the original bulletin.  Last year, the Alabama Homeowners Bill of Rights Act was passed to ensure admitted insurers helped their customers to better understand their coverage.  In January 2013, the Department applied the requirements for provision of an Outline of Coverage and Comprehensive Policy Checklist for nonadmitted policies.  NAPSLO opposed the inclusion of nonadmitted carriers in this requirement. The Department will continue to apply this requirement as they believe all policyholders should have the same information. However, they did revise the bulletin by not requiring the insured sign the forms.  Effective date of this bulletin is July 1.