Wednesday, April 13, 2011

Several States Pass NRRA Related Legislation; Changes Tracked on NAPSLO's Website

NRRA-related legislation was signed into law recently in Washington, New Mexico, Arkansas and Idaho and is awaiting action by the Governors in Arizona, Maryland and North Dakota.

To date legislatures in 16 states have passed legislation related to the NRRA. Legislation in New York, Virginia, Washington, Maryland and Idaho did not address compacts while Kentucky, Ohio, New Mexico and North Dakota passed legislation favoring the Surplus Lines Insurance Multistate Compliance Compact (SLIMPACT) type of compacts. South Dakota and West Virginia favored the NAIC's Nonadmitted Insurance Multistate Agreement (NIMA) while Arkansas, Arizona, Mississippi, Wyoming, and Utah approved legislation authorizing the Commissioner to enter into an agreement or compact.

To keep up to date on what is going on in each state, you can follow changes on the NAPSLO website under New Surplus Lines Law and there is a state-by-state table (New Statues) showing the most recent action by legislators

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