WASHINGTON–The American Association of Managing General Agents has called on the members of the House Financial Services Committee to approve legislation designed to ease the regulatory burden on multistate surplus lines insurance transactions.
“This bill is vital to the needed modernization of the regulatory complexities existing in the surplus lines insurance marketplace, and we respectfully request the full committee's passage of the legislation,” wrote AAMGA Executive Director Bernd G. Heinze in letter sent to all 70 members of the committee.
Introduced by Reps. Roy Moore, D-Kan., and Ginny Brown-Waite, R-Fla., the Non-Admitted and Reinsurance Reform Act of 2006 would clarify the rules regarding multistate surplus lines transactions by establishing the insured's home state as the regulator for the transaction.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
