PCI Advocacy Takes Strategic Approach Regarding Nonadmitted and Reinsurance Reform Act (NRRA)
The "Dodd-Frank Wall Street Reform and Consumer Protection Act" (DFA), incorporated significant changes for surplus lines regulation through the Nonadmitted and Reinsurance Reform Act (NRRA). Read
The enactment of the long-awaited Nonadmitted and Reinsurance Reform Act will bring about the PCI-supported streamlining of the compliance aspects of the surplus lines insurance market and the resolution of conflicting state laws governing the placement, tax payment and allocation of premium for multistate surplus lines risks.
PCI is taking a strategic approach to this issue and will continue to work closely with state legislatures, insurance departments and the NAIC to achieve uniform standards consistent with both the spirit and the letter of the act.
For questions about surplus lines or the NRRA, please contact David Kodama
, assistant vice president, research.