NAPSLO member dues notices were mailed in late June and are due August 1. The dues reflect an 8% increase recently approved by the Board of Directors.
Dues Payment Amounts (Fiscal year Aug. 1, 2008 - July 31, 2009)
Wholesale Broker
Main office - $1,000
Branch Offices - $325 per branch location
Company
Main Office - $7,125 (Annual Premium Volume =>$100 million)
- $3,600 (APV < $100 million) Branch office - $325 per office Underwriting Manager Main Office - $7,125 (APV =>$100 million)
- $3,600 (APV $25- $100 million)
- $1,425 (APV < $25 million) Branch office - $325 per branch location
Associate Riskbearer (such as reinsurer, syndicate, non-U.S./Canada insurer) Main Office - $7,125 (APV =>$100 million or more)
- $3,600 (APV < $100 million) Branch office - $325 per branch location
U.S. Based Reinsurance Intermediary Firm
Main Office - $3,600
Branch office - $325 per branch location*
All Other
Main office - $1,000
Branch Offices - $325 per branch location*
* Wholesale Broker, Company and Underwriting Managers must list all branch offices. Associates are not required to list all branch offices.
Monday, June 30, 2008
Tuesday, June 24, 2008
California amends surplus lines codes
Sections 1750 and 1765 of the California Insurance Code relating to broker licenses and license fees were recently amended following the implementation of AB-1699 which was approved in mid-June.
Under the changes, the commissioner will now require a surplus lines broker fee of $250 where the broker is an individual transacting only on behalf of a surplus lines broker organization.
In addition, the filing fee for a license to act as a surplus lines broker will be $1,000 every two years, or for any initial fractional license year. For an individual licensed as a surplus line broker who only transact on behalf of a surplus line broker organization, the filing fee is $500 every two years, or for any initial fractional license year.
Also the code was amended to read that for each surplus line office maintained by the licensee from which the licensee transacts business with California residents, this law requires the licensure, as a surplus lines broker, of each natural person or persons located at these offices who is or are to be responsible for the discharge of all duties placed upon the licensee acting as a surplus line broker at the office.
Under the changes, the commissioner will now require a surplus lines broker fee of $250 where the broker is an individual transacting only on behalf of a surplus lines broker organization.
In addition, the filing fee for a license to act as a surplus lines broker will be $1,000 every two years, or for any initial fractional license year. For an individual licensed as a surplus line broker who only transact on behalf of a surplus line broker organization, the filing fee is $500 every two years, or for any initial fractional license year.
Also the code was amended to read that for each surplus line office maintained by the licensee from which the licensee transacts business with California residents, this law requires the licensure, as a surplus lines broker, of each natural person or persons located at these offices who is or are to be responsible for the discharge of all duties placed upon the licensee acting as a surplus line broker at the office.
Wednesday, June 11, 2008
Convention Online Registration Underway
More than 1,200 have already registered online in the past two days for the 2008 Annual Convention.NAPSLO's 2008 Annual Convention is September 10-13 in San Diego, CA. You can visit http://annual.napslo.org/ to register online and learn more about the Convention details.
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