Time, money and a unified industry voice in Washington could get a surplus lines reform bill introduced in the Senate this year, the president of the National Association of Professional Surplus Lines Offices contends.
NAPSLO President William Newton told National Underwriter he has reason to be optimistic that a bill to streamline surplus lines regulation and taxation on multistate risks will get an airing in the Senate this year, although it failed to be introduced in that house of Congress in 2006.
Speaking to NU when he took office last September, Mr. Newton set goals of moving the reform bill through both Congressional chambers, and quadrupling the size of NAPSLO's Political Action Committee funding–then sitting at just over $45,000–as two key goals of his presidential term.
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