Monday, December 23, 2013

Florida Surplus Lines Services Office Announces Decrease in Service Fees

The Florida Surplus Lines Services Office (FSLSO) announced that its service fee will decrease from 0.2% to 0.175% effective April 1, 2014.  This fee applies to single-state Florida policies only. For additional information, including how to determine the appropriate date for the rate, view the FSLSO announcement here.  

Friday, December 20, 2013

California Department of Insurance Announces Increase in Licensing Fees

Effective March 17, 2014, licensing fees for all insurance producers, bail agents, adjusters and insurers operating in California will increase by 10%, the California Department of Insurance (CDI) announced on Monday.  The increases are non-line specific and do effect surplus lines. To read the announcement from the CDI and view the new fee schedule, click here.  

Tuesday, December 17, 2013

NAPSLO Notes Passing of Former Foundation Board Member

Horst Leonard Lechler, former Board member of the Derek Hughes/NAPSLO Educational Foundation and president of NAPSLO member firm Anderson & Murison of Pasadena, Calif., passed away on Nov. 29 while on vacation in Boulder, Colo., according to the Insurance Journal.

Lechler started his insurance career with Houston Insurance and then for 37 years worked for Anderson & Murison as partner and later president. He served on the Board of the Foundation from 2000 to 2009 and was also actively involved in other industry and charitable organizations, serving as past president or director for the California Surplus Line Association, the American Association of Managing General Agents, the San Gabriel Chapter of CPCU, and the Pasadena Kiwanis Club.

Lechler was born in Wuppertal, Germany, on November 12, 1939 and came to the U.S. when he was 19. He served in the U.S. Army and became a naturalized U.S. citizen in 1967. Lechler is survived by his wife Ginny, and daughters Kristine Supple, Kathleen Hopper, son Mark Lechler, stepdaughter Robin Hooge, and four grandchildren.

A celebration of Lechler’s life will be held on Jan. 11, 2014 at 10:30 a.m. at Our Savior Lutheran Church in Arcadia, Calif. A reception will follow at the Valley Hunt Club in Pasadena. In-lieu of flowers, donations can be made to The Huntington Hospital Ambulatory Care Unit 626.397.3241 or The Salvation Army 562.264.3679.

Thursday, December 12, 2013

Federal Insurance Office Releases Report

Today, the Federal Insurance Office (FIO) of the U.S. Department of the Treasury released a report entitled “How to Modernize and Improve the System of Insurance Regulation in the United States”, which was completed pursuant to Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act. NAPSLO’s Legislative Committee will be carefully reviewing the report for any information or recommendations related to the regulation and taxation of surplus lines insurance, and we will be providing additional updates for all NAPSLO members as NAPSLO’s review is completed. From our quick review, Section IV provides a brief summary of the FIO’s review of the Nonadmitted and Reinsurance Reform Act of 2010; however, the report includes no specific recommendations outside of continued monitoring of state progress toward implementation of Subtitle B of Title V of the Dodd-Frank Act. 

NAPSLO members with questions should contact either Keri Kish, NAPSLO Director of Government Relations, or Brady Kelley, NAPSLO Executive Director, at 816.741.3910.     

Monday, December 02, 2013

Massachusetts to Allow Electronic Filing of Broker Affidavit with Division of Insurance in 2014

The Massachusetts Division of Insurance announced they will begin accepting the Form BR-7 Affidavits for Insured electronically effective January 1, 2014. The Division posted information on this change to the new “2013 Surplus Lines Brokers Filing and Instructions” page of their website. The Division does not intend to issue a Bulletin regarding the electronic filling.  Brokers will now be allowed to retain the original “wet signature” Form BR-7 in their files and deliver an electronic copy to the Division as outlined here.

For additional information or questions, contact the Surplus Lines Auditor at the Division of Insurance directly at 617.521.7415.