The state of the economy and developments in states’ implementation of the federal excess and surplus lines reform law will be two topics on the minds of National Association of Professional Surplus Lines Offices (NAPSLO) members as they gather for the organization’s 2012 Mid-Year Leadership Forum.
Speaking to NU about the topics members will be discussing at the conference, slated for Feb. 29 to March 3 in Scottsdale, Ariz., NAPSLO Executive Director Brady Kelley says, “Leading any business through these economic conditions is top of mind, in my opinion. I’d expect that may be one of the topics discussed here.”
In an update sent to members on Jan. 25, NAPSLO notes that 44 states have taken action to implement the NRRA, but only nine states, representing 5.23 percent of nationwide premium, are working to implement the industry-supported SLIMPACT. That compact needs 10 member states in order to establish a tax clearinghouse.
Eleven states and Puerto Rico have signed the NIMA agreement, and 13 states have obtained legislative authority to enter into some form of tax sharing. The remaining 11 states that have taken action to implement the law have taken a home-state approach to regulation and taxation.