Monday, March 21, 2011

NAPSLO to Offer Webinar on NRRA Implementation Status on April 19

Information on the implementation status of surplus lines reforms signed into law in 2010 and their impact on the surplus lines industry will be the subject of a NAPSLO sponsored webinar on Tuesday, April 19 at 2:00 p.m. Eastern.

The webinar (The NRRA and Surplus Lines Reforms - An Update: Will You and the States Be Ready on July 21, 2011?) will review state actions to implement the NonAdmitted & Reinsurance Reform Act and what agents, brokers, carriers should know and expect when the law goes into effect.

The NRRA mandates that beginning July 21 the insured's home state will be the only state with jurisdiction over surplus lines transactions and the only state that can require a tax be paid by the broker. To comply, states are revising their laws. Many states are also considering forming a tax compact to handle allocation of surplus lines premium taxes. This may impose some additional reporting requirements for brokers and could impact companies.

There is no charge to attend the webinar and you can register on-line. You will receive an email with information on accessing the webinar. If you have any registration questions, please contact Mike Ardis at 816-741-3910.

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