The NIMA Surplus Lines Clearinghouse today announced that Hawaii submitted a notice of withdrawal from NIMA on June 7, 2012. On June 12th, the NIMA states approved the following resolution:
“Policies effective during the time in which a state is a NIMA Participating State (including the 60-day withdrawal period from NIMA) will be filed with the Clearinghouse through the end of the withdrawal period. However, Participating States which tender notice of withdrawal prior to the date of the Clearinghouse implementation will not participate in the Clearinghouse tax filing or tax allocation.”
As a result, Hawaii will not be considered a NIMA participating state for the purposes of filing and allocating taxes for new and renewal policies effective on or after July 1, 2012 where the Home State of the insured is a NIMA participating state. Remaining NIMA jurisdictions include Florida, Louisiana, Nevada, Puerto Rico, South Dakota, Utah and Wyoming.
Please make sure to check out our recent E-News updates regarding recent NIMA developments. They can be found at http://www.napslo.org/imispublic/Content/NavigationMenu/News/ENews/2012/default.htm.