Brokers Support New Federal Bill to Reform Surplus Lines Insurance Regulation

June 20, 2006

  • June 22, 2006 at 6:20 am
    SurplusFuss says:
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    How incredibly disappointing that support from those two entities was not shown at yesterday\’s hearing. Those of us dealing with multi-state commercial surplus lines live with a compliance nightmare every single day. UNIFORMITY IS DESPERATELY NEEDED! I know it\’s near to impossible to get 50 jurisdictions to agree on one set of regulations, but couldn\’t they at least agree on SOME things? Tax reporting, due diligence, stamping fees, policy wording, anything.

    Really makes me wonder how many of the big admitted commercial insurers are throwing money at lobbyists to try to keep this legislation from passing so as to avoid competition from the surplus lines market. Hmmmmmmmm….



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