The webinar will review what agents, brokers, carriers and regulators need to know about regarding implementing the Nonadmitted & Reinsurance Reform Act, contained in the financial services reform bill approved in July 2010.
The surplus lines reform language mandates that beginning next July the home state of the insured will be the only state with jurisdiction over the transaction and the only state to which a broker must pay taxes.
You can register online for the webinar. There is no charge for the webinar. You will receive a confirmation email with the phone number to call on the day of the webinar and the website address to view the presentations. If you have questions regarding registration, please contact Mike Ardis at NAPSLO at (816) 741-3910.
Webinar Topics will include:
- Introduction and Overview of the NRRA surplus lines reforms
- What will the NRRA reforms mean for surplus lines brokers?
- When do the NRRA reforms become effective?
- What do the NRRA terms “principal place of business” and “principal residence” mean?
- Which state is the home state under the NRRA if 100% of the insured risk is outside of the home state?
- If affiliates are insured under a surplus lines policy, which state taxes the premium under the NRRA?
- How will the NRRA impact surplus lines insurance companies?
- How will the NRRA impact exempt commercial purchasers?
- What is the "tax allocation report" required by the NRRA?
- What is the next step for implementation of a tax system?
- What happens if the states fail to implement a system to allocate taxes?
- Richard Bouhan, NAPSLO Executive Director
- Dan Maher, Executive Director, Excess Lines Association of New York
- Michael Byrne, Partner, Dewey and Leboeuf
- Libby Baney, B&D Consultants, NAPSLO Washington D.C. Lobbyist
- Steve Stephan, NAPSLO Director of Government Relation