WASHINGTON--Opposition is growing in Florida and Georgia to federal legislation reforming regulation of surplus lines markets.
Specifically, the Georgia regional brokers say they are concerned they may lose business to companies in larger states and their states may lose revenue to larger states.
At issue is a provision in both House and Senate bills reforming surplus lines regulation that establishes the state regulator of the "principal place of business" of a company as the chief regulator and recipient of taxes on the transaction.
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