Wednesday, July 21, 2010

NAPSLO Officials Note Goal of Reforming Surplus Lines Tax Payment Laws Realized; NAPSLO to Host Webinar on Reform Implementation

NAPSLO officials are pleased that the industry’s goal to reform and modernize surplus lines regulation and premium tax laws has been accomplished with the signing on Wednesday of the Restoring American Financial Stability Act of 2010 by President Obama.

"NAPSLO is pleased to see its efforts to establish a more rational and efficient method of paying surplus lines taxes and conducting multi-states surplus lines transactions become a reality. NAPSLO’s goal over the next year is to work with the states as they implement the reforms set forth in this legislation,” said NAPSLO Executive Director Richard Bouhan.

To assist members with the changes, NAPSLO is sponsoring a free webinar on the implementation of the surplus lines provisions of the NRRA on Thursday, August 19 at 1:00 p.m. CDT.

The webinar will review what the reforms mean for surplus lines brokers, carriers and exempt commercial purchasers; explain terms such as “principal place of business;” and discuss the possibility of an interstate tax compact.

Panelists will be Dick Bouhan, NAPSLO; Dan Maher, ELANY; Michael Byrne, Dewey and Leboeuf; Libby Baney, B&D Consulting, and Steve Stephan, NAPSLO. To register for the webinar, click on the following link.

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