Unnecessary SMART Act Distinctions Could RestrictE&S Market Access For Some Buyers
Inconsistent definitions of sophisticated buyers may leavesome in tough spot

By John P. Dearie, Jr.
and Lewis Fickett III

Distinctions between insurance buyers buried in the language ofthe proposed federal State Modernization and Transparency Act willcreate inconsistencies in their access to admitted and surpluslines markets, if draft language is adopted.

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