tag:blogger.com,1999:blog-130314412024-03-04T22:33:00.521-06:00NAPSLO Blognapslohttp://www.blogger.com/profile/16759605058747000446noreply@blogger.comBlogger497125tag:blogger.com,1999:blog-13031441.post-7956635599637510802015-01-20T10:32:00.000-06:002015-01-23T10:30:36.770-06:00Haldeman and other NAPSLO members featured on latest "Hot 100" list<div class="MsoNormal">
Congratulations to NAPSLO President, Hank Haldeman, on his
inclusion in the <i>Insurance Business
America</i> “<a href="http://issuu.com/keymedia/docs/iba_2.06/25?e=1100026/11008260">Hot 100” list</a>. The list is comprised of 100 of the industry’s top
influencers. Haldeman is also featured as an Industry Icon in the January issue
of Insurance Business America. Check out the <a href="http://issuu.com/keymedia/docs/iba_2.06/21?e=1100026/11008260">full story here</a> to learn more
about how he came to the E&S industry, where he sees it going and why he
loves his work.</div>
<div class="MsoNormal">
<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In addition to Haldeman, these NAPSLO members are also included
in the Hot 100 List. We’re pleased to work with so many great professionals every
day. Congratulations! <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Curtis Anderson, RPS<o:p></o:p></div>
<div class="MsoNormal">
Inga Beale, Lloyd’s of London<o:p></o:p></div>
<div class="MsoNormal">
Bevin Beatovic, Outsource Insurance Professionals<o:p></o:p></div>
<div class="MsoNormal">
Alain Bellet, Capstone Underwriters<o:p></o:p></div>
<div class="MsoNormal">
Joseph Boren, Ironshore Insurance<o:p></o:p></div>
<div class="MsoNormal">
Cason Burdett, U.S. Risk<o:p></o:p></div>
<div class="MsoNormal">
Denis Brady, Burns & Wilcox Brokerage<o:p></o:p></div>
<div class="MsoNormal">
Sue Brennan, Countrywide Brokerage<o:p></o:p></div>
<div class="MsoNormal">
Jeff Cruey, Great American Insurance Group<o:p></o:p></div>
<div class="MsoNormal">
Robert Darling, Atlantic Specialty Lines<o:p></o:p></div>
<div class="MsoNormal">
Sharon Emek, Work at Home Vintage Employers<o:p></o:p></div>
<div class="MsoNormal">
Dan Epstein, ReSource Pro<o:p></o:p></div>
<div class="MsoNormal">
Troy Fornof, USG Insurance/USG Holding Group<o:p></o:p></div>
<div class="MsoNormal">
Stan Galanski, The Navigators<o:p></o:p></div>
<div class="MsoNormal">
Michael Gramm, XL Group<o:p></o:p></div>
<div class="MsoNormal">
Hank Haldeman, The Sullivan Group<o:p></o:p></div>
<div class="MsoNormal">
Tim Horton, USG Insurance Services<o:p></o:p></div>
<div class="MsoNormal">
Matthew Hulburt, Burns & Wilcox<o:p></o:p></div>
<div class="MsoNormal">
Liam Hutelmyer, AmWINS Transportation Underwriters <o:p></o:p></div>
<div class="MsoNormal">
Merwyn Larson, Erickson-Larsen, Inc. <o:p></o:p></div>
<div class="MsoNormal">
Tom Lott, AmWINS<o:p></o:p></div>
<div class="MsoNormal">
David Lupica, ACE Group<o:p></o:p></div>
<div class="MsoNormal">
Matt Lynch, RPS<o:p></o:p></div>
<div class="MsoNormal">
Tim McAuliffe – Ironshore Insurance<o:p></o:p></div>
<div class="MsoNormal">
David McElroy, Arch Insurance<o:p></o:p></div>
<div class="MsoNormal">
Andrew McMellin, Catlin <o:p></o:p></div>
<div class="MsoNormal">
Jonathan Michael, RLI<o:p></o:p></div>
<div class="MsoNormal">
Dimitri Nikouline, Appulate, Inc<o:p></o:p></div>
<div class="MsoNormal">
Michael Palotay, NAS Insurance Services<o:p></o:p></div>
<div class="MsoNormal">
Milorad Piper, Swiss Re<o:p></o:p></div>
<div class="MsoNormal">
Tom Pntarelli, CNA<o:p></o:p></div>
<div class="MsoNormal">
Bill Pritchard, Beacon Hill Associates<o:p></o:p></div>
<div class="MsoNormal">
Lori Rafkin, Berkshire Hathaway Specialty<o:p></o:p></div>
<div class="MsoNormal">
Stephen Riemer, Regency Insurance Brokerage<o:p></o:p></div>
<div class="MsoNormal">
James Roe, Arlington/Roe<o:p></o:p></div>
<div class="MsoNormal">
Robert Sanders, Preferred Specialty<o:p></o:p></div>
<div class="MsoNormal">
Michele Sansone, XL Group<o:p></o:p></div>
<div class="MsoNormal">
Richard Schmitzer, James River Insurance Company<o:p></o:p></div>
<div class="MsoNormal">
Doreen Spadorcia, Travelers Companies<o:p></o:p></div>
<div class="MsoNormal">
Kevin Strong, XL Group<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/11683292923516718851noreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-91534958721639979232014-09-05T13:54:00.000-05:002014-09-05T13:54:02.716-05:00Illinois announces increase in stamping fee<div class="MsoNormal">
On Wednesday, the Surplus Line Association of Illinois <a href="http://www.slai.org/bulletins/bulletin42.html">announced</a> the stamping
fee will increase from .1% to .2% for all policies effective January 1, 2015
and thereafter. If an endorsement is issued after January 1, 2015, the stamping
fee should be calculated at the rate in effect at the inception of the policy.
Therefore, for endorsements on policies issued prior to January 1, 2015, the
stamping fee should be calculated at .1% but endorsements on policies issued on
or after January 1, 2015, the fee should be calculated at .2%. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
For additional information or questions, contact the <a href="http://www.slai.org/contact/_contact.html">Surplus Line Association of
Illinois</a>. <o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/11683292923516718851noreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-37179337352133943472014-08-29T14:11:00.003-05:002014-08-29T14:11:30.628-05:00Insurance Journal issues review of surplus lines tax sharing<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-style: italic; mso-hansi-theme-font: minor-latin;">A recent </span><a href="http://www.insurancejournal.com/news/national/2014/08/15/337618.htm"><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-style: italic; mso-hansi-theme-font: minor-latin;">Insurance
Journal article</span></a><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-style: italic; mso-hansi-theme-font: minor-latin;"> discusses the continued differences between the few states that
participate in tax sharing as part of the Non-Admitted Insurance Multi-State
Agreement (NIMA) versus the majority of states that retain 100% of the surplus
lines taxes collected as the home state. NAPSLO’s </span><a href="http://www.napslo.org/imispublic/pdf/Legreg/NAPSLO_Letters_and_Analysis_to_Commissioners.pdf"><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-style: italic; mso-hansi-theme-font: minor-latin;">recent
analysis</span></a><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-style: italic; mso-hansi-theme-font: minor-latin;"> illustrating the insignificant financial impact, especially when
compared to the burden and increased costs incurred by brokers and consumers,
was highlighted in the article. NAPSLO remains hopeful that additional data
from NIMA states will be made available for further analysis, but remains confident
additional data will support our initial findings. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-style: italic; mso-hansi-theme-font: minor-latin;">NAPSLO continues to believe that the only viable and uniform national
solution for surplus lines premium taxation is the home state approach and that
all states should tax 100% of the surplus lines premium on a policy at their
home state rate and retain 100% of the taxes they collect. <o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/11683292923516718851noreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-84346942277117194012014-07-30T14:12:00.000-05:002014-07-30T14:14:19.718-05:00NAPSLO internship program in the news<div class="MsoNormal">
<span style="font-family: inherit;">The NAPSLO internship program is featured in a recent story
in <i>Insurance Business America</i>, where it is cited as an industry best.
You can read the <a href="http://www.ibamag.com/news/next-generation-where-you-can-find-42-of-new-industry-hires-18811.aspx?keyword=napslo">full
story here</a>.</span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><br /></span></div>
<div style="background: white; margin-bottom: .0001pt; margin: 0in;">
<span style="font-family: inherit;">NAPSLO summer
internships are paid and awarded to college students interested in an insurance
career. Interns spend nine weeks with NAPSLO member firms learning all aspects
of the surplus lines insurance industry. Interns receive a competitive
salary from their host firms and NAPSLO provides a stipend, covers travel,
housing and various other related expenses. Interns also compete for additional
internships in London<span class="apple-converted-space"> </span>and Bermuda
that takes place the following summer.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><br /></span></div>
<div style="background: white; margin-bottom: .0001pt; margin: 0in;">
<span style="font-family: inherit;">The application
deadline for the 2015 NAPSLO Internship Program will be <strong>October 15</strong><b>, 2014</b>.
A <span class="apple-converted-space"> </span><a href="http://www.napslo.org/imispublic/internships/InternshipBrochure2014.pdf">brochure is available on-line</a> for more information about the program.<o:p></o:p></span></div>
<br />
<span style="font-size: 11pt;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: 11pt;">
<!--[if !supportLineBreakNewLine]--><br />
<!--[endif]--></span>Anonymoushttp://www.blogger.com/profile/11683292923516718851noreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-12518103516935737142014-06-20T16:06:00.000-05:002014-06-23T10:03:09.340-05:00TRIA takes step forward to advance in the U.S. House of Representatives along with NARAB II<!--[if gte mso 9]><xml>
<o:OfficeDocumentSettings>
<o:AllowPNG/>
</o:OfficeDocumentSettings>
</xml><![endif]--><!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-US</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:EnableOpenTypeKerning/>
<w:DontFlipMirrorIndents/>
<w:OverrideTableStyleHps/>
</w:Compatibility>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--><!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="10" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}
</style>
<![endif]-->
<br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 10.5pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">Today the House Financial Services Committee voted to
advance <a href="http://legiscan.com/US/bill/HB4871/2013" target="_blank">H.R. 4871</a> the TRIA Reauthorization Reform Act of 2014 for consideration by the
full membership of the U.S House of Representatives. NAPSLO previously reported
on the proposed legislation <a href="http://napslo.blogspot.com/2014/06/us-senate-begins-process-to-advance.html" target="_blank">here </a>and <a href="http://napslo.blogspot.com/2014/06/normal-0-false-false-false-en-us-x-none.html" target="_blank">here</a>. NAPSLO is especially pleased and applauds
Chairman Randy Neugebauer for successfully offering an amendment that will
include the National Association of Registered Agents and Brokers (NARAB II) as
part of this legislation.<span style="mso-spacerun: yes;"> </span>NAPSLO
strongly supports <a href="http://napslo.blogspot.com/2014/01/important-updates-from-dc.html" target="_blank">NARAB II</a>. </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 10.5pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">The next step for the TRIA legislation is consideration and
final vote in both chambers. NAPSLO is hopeful TRIA will be reauthorized in the
coming months and that NARAB II will continue to be attached. NAPSLO will
continue to provide updates as this legislation progresses.<span style="mso-spacerun: yes;"> </span></span></div>
napslohttp://www.blogger.com/profile/16759605058747000446noreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-19609933638346440972014-06-18T16:15:00.001-05:002014-06-18T16:32:59.712-05:00House Introduces TRIA Reauthorization, Schedules Markup of Legislation<div class="MsoNormal">
<br />
<!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-US</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:EnableOpenTypeKerning/>
<w:DontFlipMirrorIndents/>
<w:OverrideTableStyleHps/>
</w:Compatibility>
<w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--><!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="10" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman","serif";}
</style>
<![endi--><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">The National
Association of Professional Surplus Lines Offices (NAPSLO) commends the
continued progress from Congress on the reauthorization of the Terrorism Risk
Insurance Act. Earlier this month, the Senate Banking Committee approved its
reauthorization proposal. In recent days, the House Financial Service Committee
released legislation which would extend the program for five additional years
while making a series of reform to the program. NAPSLO appreciates the
Committee's outreach and collaboration with industry as this process has
progressed, and also appreciates the Subcommittee’s work on reforms contained
in the NARAB II legislation. NAPSLO continues to support the attachment of
NARAB II to the final TRIA reauthorization legislation.</span><br />
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">As the process
moves forward, NAPSLO continues to urge swift action on the part of Congress to
reauthorize TRIA before the program expires at the end of 2014. A markup
has been scheduled for Thursday, June 19 and NAPSLO looks forward to continuing
to work with Congress to address this program’s reauthorization. </span></div>
<br />
<br />
<span style="color: #1f497d;"></span></div>
napslohttp://www.blogger.com/profile/16759605058747000446noreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-41216651244101263212014-06-17T10:55:00.001-05:002014-06-17T11:02:54.846-05:00The Council of Insurance Agents & Brokers (The Council) invites NAPSLO members to participate in free FATCA webinar<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">FATCA will
become effective on July 1, 2014 and with it comes new compliance requirements
for NAPSLO members. You can view recent updates from NAPSLO regarding FATCA <a href="http://www.magnetmail.net/actions/email_web_version.cfm?recipient_id=23334708&message_id=4735260&user_id=NAPSLO&jobid=19306616">here</a>.
The Council has developed a portal to assist brokers and insurers in confirming
FATCA status of a non-U.S. entity. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">On June 26<sup>th</sup>
at 11:00 a.m. EDT, they will hold a free webinar to demonstrate the new portal
and all NAPSLO members are invited to participate. NAPSLO encourages its
members to participate in the webinar and learn how to use the portal. Access
is free through December 31, 2014. For more<a href="https://ciab.webex.com/mw0401l/mywebex/default.do?nomenu=true&siteurl=ciab&service=6&rnd=0.43197614353585645&main_url=https%3A%2F%2Fciab.webex.com%2Fec0701l%2Feventcenter%2Fevent%2FeventAction.do%3FtheAction%3Ddetail%26confViewID%3D1791911615%26%26MK%3D649984308%26%26%26siteurl%3Dciab"> information</a> and to register, visit The Council <a href="https://ciab.webex.com/mw0401l/mywebex/default.do?nomenu=true&siteurl=ciab&service=6&rnd=0.6409024707121399&main_url=https%3A%2F%2Fciab.webex.com%2Fec0701l%2Feventcenter%2Fevent%2FeventAction.do%3FtheAction%3Ddetail%26confViewID%3D1791911615%26%26MK%3D649984308%26%26%26siteurl%3Dciab">here</a>.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-33214232178150472642014-06-13T07:53:00.001-05:002014-06-13T07:54:11.617-05:00U.S. House of Representatives committee expected to file TRIA Reform Act soon<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
The House Financial Services Committee is expected to file the TRIA
Reform Act of 2014 in the very near term. A copy of a “Discussion Draft” of the
bill has started circulating with Members of the Committee and has been
provided to industry stakeholders, although it has not been made public at this
time. NAPSLO is currently reviewing the draft and its impact on the surplus
lines insurance industry.<o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
NAPSLO previously reported that the Senate Banking Committee approved a
TRIA reauthorization bill that made few changes to the current TRIA program.
The proposed House bill goes further and would make several substantive changes
to the program. Some key substantive changes are in the following areas:<br />
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<ul>
<li><b>Extension</b>: The TRIA program
would be extended for a period of five years, through December 31, 2019.</li>
</ul>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<ul>
<li><b>Certification of TRIA Event</b>:
The current program’s $5 million threshold
for terrorism events has been eliminated, and the Treasury Secretary would be
required to certify an event as an act of terrorism within 90 days of the
event.</li>
</ul>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<ul>
<li><b>Bifurcation</b> <b>of NBCR and Non-NBCR Terrorism Events</b>:
The program coverage and triggers will be split and handled differently for
Nuclear, Biological, Chemical and Radiological (NBCR) events and non-NBCR
events. We believe this is a strong signal the House is evolving the TRIA
program to one that may only cover NBCR events after December 31, 2019. NBCR is
defined in accordance with the ISO form definition. While NAPSLO has encouraged
the Committee to include cyber terrorism within a category of the program’s
coverages and triggers that will apply to NBCR events, cyber terrorism would be
considered a non-NBCR event in the proposed program.</li>
</ul>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<ul>
<li><b>Program Trigger</b>: For NBCR
events, the program trigger will remain $100 million in insured losses;
however, for non-NBCR events, the triggers will increase from $100 million to
$500 million in insured losses over the course of the five years ($200 million
in 2016; $300 million in 2017; $400 million in 2018 and $500 million in 2019). There
is also a minimum threshold of $50 million in insured losses in order for any event to be considered and aggregated
as multiple acts of terrorism to reach the program’s trigger.</li>
</ul>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<ul>
<li><b>Co-Payments</b>: For NBCR
events, the program’s federal co-payment will remain at 85% but the non-NBCR
co-payment will reduce to 80% incrementally over the five year extension period
(84% in 2016; 83% in 2017; 82% in 2018 and 80% in 2019).</li>
</ul>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<ul>
<li><b>Federal Recoupment:</b> The
Treasury’s mandatory recoupment rate will increase from 133% to 150% of
government payments for losses under the aggregate retention amount. The industry’s
aggregate retention will increase from $27.5 billion to the lesser of the sum
of insurer deductibles and the aggregate amount of insured losses during the
program year.</li>
</ul>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<ul>
<li><b>Small Insurer Opt-Out</b>:
Requires the Treasury Secretary to develop regulations that would allow small
insurers to opt-out of the “mandatory offer” of the program.</li>
</ul>
<br /><o:p></o:p>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
The above is not an exhaustive list of the proposed changes in the
bill, but highlights the House’s approach to the reauthorization of the TRIA
program. It clearly demonstrates the Committee’s intent to reduce reliance upon
the Government and increase reliance on the private insurance market to cover terrorism
risks. NAPSLO will continue to review the bill and report on the progress as
both chambers address the reauthorization of the TRIA program. <o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-28022835346601883352014-06-03T15:56:00.001-05:002014-06-03T15:56:23.758-05:00U.S. Senate begins process to advance reauthorization of the Terrorism Risk Insurance Act (TRIA) <div class="MsoNormal">
Today, the Senate Banking Committee voted 22-0 to advance <a href="http://legiscan.com/US/bill/SB2244/2013">S. 2244</a>, a bipartisan bill
supporting the reauthorization of TRIA. The legislation would (1) extend TRIA
for a period of seven years; (2) phase in over five years an increase in
insurers’ co-pay from 15 to 20%, with the government still covering 80% of each
company’s additional losses; and (3) raise the mandatory recoupment threshold
to $37.5 billion, so that when the insurance industry’s aggregate uncompensated
losses are below $37.5 billion the government will be required to recoup its
TRIA payments outlaid to insurers. The bill moves next to the Senate floor for
debate and a vote by the full Senate is expected prior to August.<s> <o:p></o:p></s></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
The House is expected to introduce a separate version of a
bill to reauthorize TRIA in the very near term. That bill will go through a
similar process as the Senate, where it first is approved by the House
Financial Services Committee and then debated and adopted by the full House.
The House will either pass its version, which will then need to be compromised
with the Senate version, or simply take up the Senate bill. Either way, both
the House and Senate will need to pass identical legislation for the proposal
to become law. Most observers do not expect the final TRIA bill to be passed
and sent to the President for signature until September at the earliest. NAPSLO
will continue to provide updates as TRIA reauthorization progresses. <o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-19623668230747535832014-05-29T12:35:00.001-05:002014-06-03T08:44:54.436-05:00Congress introduces key legislative reform for definition of private flood insurance<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
NAPSLO is pleased to support the Flood
Insurance Market Parity and Modernization Act of 2014 (<a href="http://legiscan.com/gaits/search?state=US&bill=4558">HR
4558</a><span class="MsoHyperlink">)</span>,
sponsored by Rep. Dennis Ross (R-FL) and Rep. Patrick Murphy (D-FL) and <a href="http://legiscan.com/US/bill/SB2381/2013">S. 2381,</a>
sponsored by Sen. Dean Heller (R-NV) and Sen. Jon Tester (D-MT). If passed,
this critical legislation revises the federal definition of private flood
insurance to ensure surplus lines insurers are eligible to provide private
market solutions to consumers in need of solutions to unique and complex flood
risks.<o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
Although nonadmitted insurance companies are
currently allowed to provide private flood insurance, revising the definition
of private flood insurance to clarify their eligibility to provide insurance in
the insured’s home state, in accordance with the Nonadmitted and Reinsurance
Reform Act of 2010, ensures policyholders access to high-quality nonadmitted
market alternatives. <o:p></o:p></div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
Earlier this year, Sen. Heller introduced a similar
amendment during the <a href="http://napslo.blogspot.com/2014/01/important-updates-from-dc.html">flood debate
of S. 1296</a>, the Homeowner Flood Insurance Affordability Act. NAPSLO provided
extensive input and education on that Amendment. Although it was narrowly
defeated 50-49 in the Senate, and was not ultimately included in the final
version of the House bill that passed as the same Act, an up swell of support
for the Amendment developed in both Chambers, especially by the new stand-alone
bills’ sponsors. <o:p></o:p></div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
NAPSLO met with Representative Ross and Senator
Heller, as well as Senator Tester’s office, in Washington, D.C. during our May Legislative
Fly-In to urge support for this much needed legislation. We applaud all four Members
of Congress on their introduction of this common-sense legislation and look
forward to providing support as the bill moves through the legislative process.
<o:p></o:p></div>
<br />
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-34419170459488289522014-05-19T08:56:00.003-05:002014-05-19T08:57:19.976-05:00NAPSLO weighs in on NIMA updates<div class="MsoNormal">
<span style="color: #1f497d;">The Nonadmitted Insurance
Multi-State Agreement (NIMA) announced the addition of two new associate member
states, Tennessee and Wisconsin, last week. For more about the associate
members and the anticipated impact on tax-sharing in the industry, you can read
the full-story online <a href="http://www.snl.com/InteractiveX/Article.aspx?cdid=A-28084061-13103">here</a>.
</span><u5:p></u5:p><o:p></o:p></div>
<span style="color: #1f497d; font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ansi-language: EN-US; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><br />
<!--[if !supportLineBreakNewLine]--><br />
<!--[endif]--></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-90545104331249209592014-04-23T13:52:00.001-05:002014-04-23T14:26:08.460-05:00NAPSLO in the news<div class="MsoNormal">
<span style="font-family: inherit;">As part of our ongoing initiative to message the value of surplus
lines and the wholesale distribution system in the insurance marketplace, NAPSLO
proactively assists trade publications with editorial stories on the industry
and the Association. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;">These stories have recently been published and focus on both
the value of wholesale distribution and the importance of business succession
planning and how NAPSLO’s career awareness initiatives can help members with
that growing need.<o:p></o:p></span><br />
<span style="font-family: inherit;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">• Business
Insurance, "<a href="http://www.businessinsurance.com/article/20140316/NEWS07/303169972/high-capacity-drives-continued-soft-market-in-excess-and-surplus">High
capacity drives continued soft market in excess and surplus lines</a>" -
March 16, 2014</span></span><br />
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span>
<span style="line-height: 115%;"><span style="font-family: inherit;">• National
Underwriter, "<a href="http://www.propertycasualty360.com/2014/04/20/future-shock-recruiting-the-insurance-industrys-ne">Future
Shock: Recruiting the Insurance Industry’s Next Generation"</a> -
April 20, 2014</span></span><br />
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span>
<div class="MsoNormal">
<span style="font-family: inherit;">• Best's Review - "<a href="http://www.napslo.org/imispublic/pdf/I&A_March2014_NAPSLO_SECURE.pdf">Agent/Broker
Success</a>" - March 2014<o:p></o:p></span></div>
</div>
<div class="MsoNormal">
<span style="font-family: inherit;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;">
<!--[if !supportLineBreakNewLine]-->
<!--[endif]--><o:p></o:p></span></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="font-family: inherit;">You can find a full list of NAPSLO in the News stories on
the NAPSLO website <a href="http://www.napslo.org/imispublic/AM/Template.cfm?Section=logongraphics">here</a>. </span><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-21484083936202439312014-04-10T13:54:00.002-05:002014-04-10T13:55:07.018-05:00IMPORTANT COMPLIANCE UPDATE FOR MEMBERS: The Foreign Account Tax Compliance Act (FATCA) and its impact on surplus lines<div class="Default" style="text-align: justify;">
On
July 1, 2014, the Internal Revenue Service (IRS) regulations for the <a href="http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-%28FATCA%29">Foreign Account Tax Compliance Act (FATCA)</a><u><span style="color: blue;"> </span></u>will
become effective. Parts of the regulations will impact the surplus lines
industry. NAPSLO developed a Q&A Memo to assist NAPSLO members in better
understanding potential new compliance obligations under the regulations. The
Q&A Memo provides detailed information on FATCA, the impact to the surplus
lines insurance industry and the new responsibilities for the U.S. broker. <o:p></o:p></div>
<div class="Default" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
FATCA was adopted by Congress in an effort to prevent tax evasion by
U.S. citizens, U.S. residents and corporations through the use of offshore
accounts and is directed at foreign financial institutions and financial
intermediaries. FATCA does apply to U.S. source insurance premiums to the
extent such premiums are classified as “withholdable payments” and therefore
does have potential impact on the surplus lines industry.<o:p></o:p></div>
<div class="Default" style="text-align: justify;">
<br /></div>
<div class="Default" style="text-align: justify;">
The
full memorandum on FATCA, as well as a summary overview of the key points
regarding FATCA obligations, is available <a href="http://www.napslo.org/imispublic/pdf/Legreg/NapsloFATCASummaryMemo.pdf">here</a>. <o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
NAPSLO strongly recommends
that each NAPSLO member consider implementing FATCA compliance procedures. We
believe this should be simple and not overly burdensome. While compliance can
be very simple, the importance of compliance should not be underestimated; it
is indeed critical that you comply with this new federal regulation. Your
non-U.S. partners should be very willing to provide the necessary forms to
demonstrate their FATCA status upon your request and hopefully will readily
provide them. It would be prudent to simply add this new step into your general
checklist of requirements when securing a policy with non-U.S. partners. <o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
NAPSLO continues to monitor
requests and discussions with the IRS to exempt the surplus lines/property
& casualty industry from the FATCA compliance process. However, as noted in
the Q&A Memo, at this time the IRS has declined to provide an exemption. In
an effort to reduce the compliance burden on U.S. brokers, the Council of
Insurance Agents and Brokers (CIAB) is considering hosting a clearinghouse or similar assistance for
brokers to more readily access W-8BEN-E and W-8IMY forms shared by non-U.S.
insurers and brokers. NAPSLO has arranged for NAPSLO members to have access to
this solution, if developed. Also, as we mentioned above, the IRS may
eventually provide access to the non-U.S. entities’ forms as well. <o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<span style="text-align: justify;">If you have any questions or need
additional assistance related to FATCA, please contact Keri Kish at </span><u style="text-align: justify;"><span style="color: blue;">keri@napslo.org </span></u><span style="text-align: justify;">or 816.799.0855. </span><br />
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-23241415733810276362014-04-01T10:28:00.002-05:002014-04-01T10:28:48.036-05:00Lloyd's Interface for Wholesale Market Noted as Advance by E&S Joint Working Group<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: inherit;">The E&S Joint Working Group
(ESJWG), formed by NAPSLO, AAMGA, ACORD, and ACT, recently demonstrated a new
wholesale business interface for U.S. partners of Lloyd’s of London at the
AAMGA Automation and Technology Conference in March in Orlando.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: inherit;">The interface, developed with the
support of ESJWG and demonstrated at the conference by Risk Placement Services,
Arthur J. Gallagher, BinderCloud and Lucitech, generates an ACORD XML file
after the coverholder (general agent) issues the policy. The system includes
built-in error checking of data before transmission to Lloyd's. The binder data
is held in the bordereaux queue and generates the ACORD XML to provide an
immediate billing status on all policies issued. <u9:p></u9:p><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: inherit;">The interface provides gains in
efficiency with validation completed at the time a transaction is processed and
time is saved preparing month-end reports, while parties in the transaction get
immediate access to data.<u9:p></u9:p><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: inherit;">The Lloyd's subgroup of ESJWG
worked on the project as part of seeking efficiencies and standards for
managing general agents (MGAs) and wholesalers working with the London market.
The subgroup’s next initiatives include increased data validation at time of
binding; buildout of a user interface for error messages; and premium and
claims reporting on a real time basis.</span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: inherit;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: inherit;">The complete <a href="http://esjwg.org/2014/03/28/499/">news release</a> and the separate <a href="http://esjwg.org/2014/03/28/esjwg-reports-progress/">progress report</a></span><span style="font-family: inherit;"> covering efforts by the Carrier
and Retail Agent/General Agent subgroups are available to download. The ESJWG
is an alliance of carriers, agents, and vendors working with NAPSLO and other
industry groups to improve the electronic efficiencies for retail agents,
general agents, wholesale brokers and carriers.</span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-49908867010966779962014-02-26T13:11:00.001-06:002014-02-26T13:11:04.122-06:00The Washington Office of Insurance Commissioner Expands NIPR Applications to Surplus Lines Brokers<div class="MsoNormal" style="margin-bottom: 4.5pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 4.5pt;">
<span style="font-family: inherit;">The Washington Office of Insurance Commissioner (OIC) <a href="http://www.insurance.wa.gov/agents-brokers/alerts-information/applying-renewing-nipr/">announced</a> the expansion of the online application process through
the National Insurance Producer Registry (NIPR) in the state. The OIC now permits new insurance license
applications and renewals for resident surplus lines brokers and non-resident
surplus lines brokers. You can access the NIPR service directly <a href="http://www.nipr.com/">here</a>. The expansion
also applies to full lines for resident producers. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 4.5pt;">
</div>
<div style="margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: inherit;"><br />
With this announcement, Washington becomes the final state to accept surplus
lines applications and renewals through NIPR. Now a broker applying for a new
or renewal surplus lines license in multiple states may do so simultaneously
for any and all states. When enacted, section 523 of the Nonadmitted and Reinsurance
Reform Act (NRRA) of 2010 required all states to participate in a uniform
national database for application and renewal of surplus lines broker licenses.
NAPSLO is pleased all states are now participating in this national database,
bringing our industry one step closer to the uniformity envisioned by the NRRA. <span style="font-size: 11pt;"><o:p></o:p></span></span></div>
<div style="margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Calibri, sans-serif; font-size: 11pt;"><br />
<!--[if !supportLineBreakNewLine]--><br />
<!--[endif]--></span><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<br />
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-70447334541944236512014-02-21T07:11:00.001-06:002014-02-21T07:11:31.651-06:00Mid-Year Leadership Forum General Session to feature two inspiring speakers<div class="MsoNormal">
If you’re attending the NAPSLO Mid-Year Leadership Forum,
March 5-8 in Scottsdale, make plans now to hold time for the General Session on
Friday, March 7. This year’s General Session will feature two speakers, both
with messages you can apply in your business immediately. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Eric Siegel, Ph.D., is the president of Prediction Impact,
Inc. and author of the acclaimed book, <i>Predictive
Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die</i>. Siegel is
also Executive Editor of the Predictive Analytics Times, and the founder of
Predictive Analytics World and Text Analytics World. Widely renowned as an
expert in predictive analytics and data mining, he is also a former computer
science professor at Columbia University, where he won the engineering school's
award for teaching, including graduate-level courses in machine learning and
intelligent systems - the academic terms for predictive analytics. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
After Columbia, Dr. Siegel co-founded two software companies
for customer profiling and data mining, and founded Prediction Impact in 2003,
providing predictive analytics services and training to mid-tier through
Fortune 100 companies. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Siegel will discuss Predictive Analytics and how it applies
to our industry in his address at 9 a.m. on March 7. For more information about
Dr. Siegel, visit <a href="http://www.predictiveanalyticsworld.com/book/about.php#.UwU6U_ldWvI">his
website</a>. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
After a brief NAPSLO Education and Career Development
presentation, guests will be inspired by speaker Erik Weihenmayer at 10 a.m.
Despite losing his vision at the age of 13, Erik Weihenmayer has become one of
the most accomplished adventurers in the world. Re-defining what it means to be
blind, he has opened the minds of people around the world. He is the only blind
person who has reached the summit of Mount Everest and the tallest peak on each
continent.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In his talk, “Leadership—Guess Who’s a Better Climber in the
Dark?,”Weihenmayer describes the time he and his partner, a much better
climber, were caught on a dangerous rock face at nightfall and without working
headlamps. In spite of his fear, Weihenmayer knew this was his time to lead his
friend down to safety. He believes the most important aspect of leadership is
how we pass it on to others. “Leadership is contagious,” he says, “We pass it
from body to body, from life to life, and we give all the people around us the
courage to do great things.” To learn more about Weihenmayer, <a href="http://www.touchthetop.com/">visit
his website</a>.</div>
<div class="MsoNormal">
<o:p></o:p></div>
<br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
We look forward to seeing you in Scottsdale. <o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-396870293139655992014-02-03T18:51:00.001-06:002014-02-03T18:52:18.799-06:00NAPSLO Submits Testimony to House Committee on Financial Services<!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-US</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:DontVertAlignCellWithSp/>
<w:DontBreakConstrainedForcedTables/>
<w:DontVertAlignInTxbx/>
<w:Word11KerningPairs/>
<w:CachedColBalance/>
</w:Compatibility>
<w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--><br />
<!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="10" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-qformat:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:"Times New Roman";
mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:"Times New Roman";
mso-bidi-theme-font:minor-bidi;}
</style>
<![endif]--><span style="color: #1f497d;">The House Committee on Financial
Services will hold a hearing tomorrow entitled, “The Federal Insurance Office’s
Report on Modernizing Insurance Regulation.” NAPSLO was asked to submit written
testimony for this hearing and we’re pleased to offer thoughts on the report.
You can read NAPSLO’s complete submitted testimony <a href="http://www.napslo.org/imispublic/pdf/legreg/NAPSLOatFIOHearing2414.pdf"><u>here</u></a>. </span><br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="color: #1f497d;">You can also watch the hearing
live online at the <a href="http://financialservices.house.gov/">Committee’s
website</a> under the Live Webcasts link. The hearing begins at 10 a.m. EST. </span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-2665407752080602342014-01-31T10:31:00.000-06:002014-01-31T10:32:21.722-06:00Important Updates from D.C.<div class="MsoNormal">
<b><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">NARAB II<o:p></o:p></span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The National
Association of Registered Agents and Brokers Act, more commonly known as NARAB
II, is inching closer to becoming law. NARAB II would streamline the licensing
process for agents and brokers nationwide, eliminating burdensome multistate
requirements while preserving important state regulatory authority and consumer
protections. The legislation, which is
strongly endorsed by NAPSLO, was incorporated into S. 1926, the “Homeowner
Flood Insurance Affordability Act.” <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">During debate
of S. 1926, the Senate considered an amendment offered by Senators Coburn and
McCain which would have allowed states to “opt out” of participation in NARAB.
NAPSLO and other industry representatives <b><a href="http://www.napslo.org/imispublic/PDF/CoburnOppLetter14.pdf"><span style="color: blue;">sent</span></a></b></span><span class="MsoCommentReference"><span style="font-size: 8.0pt;"> </span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">a joint letter opposing the
Coburn-McCain amendment, explaining that its inclusion would be detrimental to
the underlying program. Our efforts proved successful as the Senate defeated the
amendment by a convincing vote of 24-75. This was an historic day as it was the
first time the body had passed the legislation. Similar legislation passed the
House in <b><a href="http://napslo.blogspot.com/2013/09/narab-ii-passes-house.html"><span style="color: blue;">September</span></a><!--[if !supportNestedAnchors]--><a href="https://www.blogger.com/blogger.g?blogID=13031441"></a><!--[endif]--></b> </span><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">by a vote of 397-6. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The
underlying flood legislation will now go to the House where it is expected that
Republicans will introduce and pass an alternative proposal. NAPSLO has
received commitments from House leadership that the NARAB II provisions will
also be included in their flood legislation and so once the House has passed
its legislation the House and Senate versions will be negotiated to produce a
“conferenced” bill. With both chambers supporting the underlying NARAB II
provisions, it will become law once that conferenced bill is enacted by both
chambers and signed by the President.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Homeowner Flood Insurance
Affordability Act <o:p></o:p></span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">On Thursday,
the Senate passed S. 1926 which delays implementation of the risk-based flood
insurance rates prescribed by the Biggert-Waters Flood Insurance Reform Act.
This has become an extremely political issue as residents in flood-prone areas
have been subject to significant rate increases. S. 1926 would delay
implementation for up to four years.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">NAPSLO’s
focus on flood insurance reform has been to ensure surplus lines insurers are
eligible to offer private market solutions and alternatives to consumers in
need of unique and complex flood risks. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">To
accomplish this, NAPSLO worked with Senators Heller and Lee on an amendment to
clarify the definition of private flood insurance to include policies offered
by insurance companies that may be “eligible as a nonadmitted insurer to
provide insurance in the State or jurisdiction where the property to be insured
is located, in accordance with section 524 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act (15 U.S.C. 8204)”. The amendment failed by a narrow
49-50 margin over concerns surrounding standards for private flood insurance
policies and consumer protections. NAPSLO continues to work to educate Senators
as to the role and regulation of nonadmitted insurers to alleviate these
concerns. In addition, we are working heavily with leadership in the House to
ensure that the language is included in their alternative flood proposal.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">GAO Releases Flood Insurance
Report on Strategies for Increasing Private Sector Involvement<o:p></o:p></span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Last week,
the GAO released a<span style="color: blue;"> </span><b><a href="http://www.gao.gov/assets/670/660309.pdf"><span style="color: blue;">report</span></a><!--[if !supportNestedAnchors]--><a href="https://www.blogger.com/blogger.g?blogID=13031441"></a><!--[endif]--></b> </span><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">to Congress on the National Flood
Insurance Program focused on ways to reduce the financial burden on the federal
government. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The 2014
report notes no new conclusions or recommendations since its earlier June 2011
report. The purpose of the report was to provide strategies for the federal
government to increase private market participation in flood insurance. The report
indicated that key to private market participation is allowing private insurers
to charge what is appropriate and commensurate with the underlying risk. NAPSLO
was pleased with the GAO’s continued recommendations and support of private
market solutions to the financial challenges facing the NFIP. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The
Biggert-Waters Insurance Reform Act of 2012 directed the GAO to consider
various strategies for privatizing the NFIP. This report concluded that in
order to increase private market participation, private insurers would require
(1) the ability to charge actuarially sound rates to ensure profitability, (2)
the ability to decline applicants and (3) sufficient consumer participation.
Key findings of the report include:<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">• Eliminate
subsidized rates and charge policyholders risk-based rates, limiting the Flood
Program to direct means-based subsidies. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">• Implement
recommended strategies in order to increase the private market participation to
reduce the debt of the NFIP.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">• The NFIP
operates as a residual market of last resort for policies decline by the
private sector. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">• The
Government could consider assuming the role of reinsurer, although the report
acknowledges the consumers would have to absorb these costs.<o:p></o:p></span></div>
<br />
<div>
<!--[if !supportAnnotations]-->
<br />
<div>
<div class="msocomtxt" id="_com_3" language="JavaScript">
<!--[if !supportAnnotations]--></div>
<!--[endif]--></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-2533546734969208702014-01-24T14:19:00.001-06:002014-01-24T14:19:04.332-06:00Surplus Lines Stamping Offices Report Continued Premium Growth in 2013<div class="MsoPlainText">
The Surplus Lines Stamping Office of Texas issued a
report showing that 14 states with stamping offices saw growth in surplus lines
premium during 2013 when compared to 2012. Total surplus lines premium reported
to the Stamping Offices was nearly $22.5 billion, representing more than 3.1
million transactions. While the report indicates growth of 15.5% in total, it
is heavily influenced by a large amount of prior years’ return premium
transactions processed by New York in 2012. In 2012, New York processed a
significant volume of return premium for policy years prior to 2012. Therefore,
total 2012 New York premium was artificially low, making the percentage
increase in New York premium comparing 2012 to 2013 artificially high. When
excluding New York for this anomaly, the remaining stamping offices reported a
12.2% increase in 2013 premium compared to 2012. This report is now available
by clicking <b><a href="http://www.napslo.org/imispublic/PDF/stampingofficestats2013.pdf">here</a></b>.
<o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
The report of stamping office premium during the first six months of
2013 relative to the same period in 2012 is also available illustrating a 21.2%
increase. When excluding New York and its 2012 return premium transaction
anomaly, the remaining stamping offices reported a 15.1% increase in premium.
To view the six-month report of 2013 to 2012 data, click <a href="http://www.slsot.org/SLSOT/GeneralInformation/adobepdffiles/statistics%202012.pdf"><b>here</b></a>.<o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
The report of calendar year 2012 to 2011 comparisons is also available
illustrating a 0.9% increase in 2012 premium volume. When excluding New York
and its 2012 return premium transaction anomaly, the remaining stamping offices
reported an 11.8% increase in premium. To view the report of 2011 to 2012 data,
click <a href="http://www.slsot.org/SLSOT/GeneralInformation/adobepdffiles/statistics%202012.pdf"><b>here</b></a>.
<o:p></o:p></div>
<br />
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-6190929894011028022014-01-24T11:27:00.001-06:002014-01-24T11:27:04.466-06:00Texas Data Call Includes Surplus Lines Insurers<div class="MsoNormal">
Surplus lines insurers eligible to do business in Texas
should have received <a href="http://www.tdi.texas.gov/bulletins/2014/cc.html">notice</a>
early this month from the Insurance Commissioner requiring all insurers to
report the number of policies in force in Texas as of December 31, 2013.
Insurers have been required to report this information annually since 2006. The
Surplus Lines Stamping Office of Texas (SLSOT) will continue to report policy
count data on behalf of those insurers not desiring or able to self-report.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
SLSOT issued a <a href="http://www.napslo.org/imispublic/pdf/txdatacalljan14.pdf">memo</a> to
each insurer eligible in Texas this week, along with its policy count
information, based on data from SLSOT.
The memo notes each insurer will get a second run of its policies in
March, to account for policies in force as of December 31 that agents reported
to SLSOT office during January and February of this year. If you have any questions regarding this requirement,
contact the SLSOT directly at 800.449.6394<b>.<o:p></o:p></b></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-41666078781026227192014-01-16T16:32:00.001-06:002014-01-16T16:32:53.393-06:00NAPSLO Applauds Government Accountability Office Report on NRRA <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background-color: white;">Today,
the GAO released its report to Congress titled “<a href="http://www.gao.gov/assets/670/660245.pdf">Effects of the Nonadmitted and Reinsurance Reform Act of 2010.</a>” NAPSLO is pleased with the GAO’s report and
applauds its effort to understand and explain the significance of the NRRA and
its positive impact on the surplus lines industry. The report also compliments
the role and financial stability of the surplus lines industry. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background-color: white;">As
mandated by the NRRA, the purpose of the GAO’s study was to (1) examine the
effects, if any, on the price and availability of insurance coverage in the
surplus lines market and (2) examine actions states have taken to implement the
NRRA. NAPSLO
served as a resource to the GAO during the development of this report. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background-color: white;">Key
GAO findings include:</span><br />
<br />
<ol>
<li><span style="background-color: white; text-indent: -0.25in;">The
surplus lines industry is financially strong and works well as a safety valve
for risks the admitted market will not cover.</span></li>
<li><span style="background-color: white; text-indent: -0.25in;">The NRRA
has had little, if any, effect on the prices or availability of coverage, as the NRRA was not intended to affect these areas. The GAO notes that any changes in
price and availability, or flow of business between the admitted and nonadmitted
markets, would be due to normal insurance business cycles rather than the NRRA.</span></li>
<li><span style="background-color: white; text-indent: -0.25in;">The NRRA and
resulting changes in states’ laws have simplified the compliance process for
brokers and insurers writing multistate risks. Consistent with our advocacy on
behalf of the NAPSLO membership, the home state provision has produced
significant benefits for the surplus lines industry by reducing the need for
brokers and insurers to comply with differing sets of rules, disclosures and
requirements. The GAO notes that market participants interviewed agreed that
the home state provision has brought needed clarity to the market.</span></li>
<li><span style="background-color: white; text-indent: -0.25in;">The NRRA
has simplified the collection of premium taxes for multistate risks, but the
states are not yet uniform in their treatment of surplus lines premium tax
post-NRRA.</span></li>
<li><span style="background-color: white; text-indent: -0.25in;">Not all
states have fully implemented the NRRA, and industry concerns remain related to
the non-uniform implementation of the NRRA’s eligibility provisions.</span></li>
</ol>
</div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background-color: white;">NAPSLO members with questions should contact either Keri Kish, NAPSLO
Director of Government Relations, or Brady Kelley, NAPSLO Executive Director,
at 816.741.3910. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-37841498006436763512014-01-15T10:53:00.003-06:002014-01-15T10:55:38.984-06:00Wholesale Value Highlighted in Trade Publications<div class="MsoNormal">
The value of the wholesale distribution system is
highlighted in several trade publications out this month. We are pleased to
have contributed to these stories and are always on the lookout for ways to
help educate insurance professionals about how NAPSLO member wholesalers can
customize solutions for the retail industry. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Check out the good news here:<o:p></o:p></div>
<div class="MsoNormal">
<span style="color: blue;"><br /></span></div>
<div class="MsoNormal">
<span style="color: blue;"><i><a href="http://viewer.zmags.com/publication/16a8a0ac">The Bridge<span style="font-style: normal;">, “Don’t Let Your Clients Outgrow You,” page 5.</span></a></i>
<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="color: blue;"><i><a href="http://www.property-casualtydigital.com/propertycasualty/201401#pg10">National
Underwriter<span style="font-style: normal;">, “Wholesaler Help is Key in Placing
Difficult Risks.”</span></a></i><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="color: blue;"><i><a href="http://www.ibamag.com/contents/e-magazine.aspx?id=16765&utm_source=ibous&utm_medium=emag&utm_campaign=Insurance+Business+America+issue+1.02">Insurance
Business America<span style="font-style: normal;">, “Surplus Lines Maintain
Steady Rise in Market Share,” page 46.</span></a></i> <o:p></o:p></span></div>
<span style="color: blue;"><br /></span>
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-63251341923413891422014-01-09T13:59:00.002-06:002014-01-09T13:59:48.892-06:00NAPSLO members in the newsCongratulations to three NAPSLO members for their recognition by <em>Insurance Business America</em> in the "Hot 100 Insurance Professionals of 2013" list. <br />
<br /><br />
NAPSLO President, Kevin Westrope, and committee members Alan Kaufman and Bryan Sanders, were all honored by the publication in its January 2014 issue. <a href="http://bit.ly/1d3TeAq">Click here</a> and browse to page 20 to read more about the honorees. <br />
<br /><br />
<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-19691358058375362212013-12-23T10:26:00.002-06:002013-12-23T10:26:53.510-06:00Florida Surplus Lines Services Office Announces Decrease in Service Fees<div class="MsoNormal">
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 <a href="http://www.fslso.com/publications/news.aspx?ID=549">here</a>. <span style="color: #1f497d;"> </span></div>
<div class="MsoNormal">
<o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-13031441.post-19786870328661499702013-12-20T12:09:00.001-06:002013-12-20T12:09:15.606-06:00California Department of Insurance Announces Increase in Licensing Fees<div class="MsoNormal">
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 <a href="http://www.insurance.ca.gov/0250-insurers/0300-insurers/0200-bulletins/bulletin-notices-commiss-opinion/Bulletin2013-3.cfm">here</a>. </div>
<div class="MsoNormal">
<o:p></o:p></div>
Unknownnoreply@blogger.com0