WASHINGTON–A trade group official said interested parties have drafted an interstate compact to facilitate uniform regulation and tax allocation of surplus lines insurance products and it will be sent to regulators for further action.
Daniel Maher, executive director of the Excess Line Association and a key member of the interested parties group, said the draft will be forwarded to the National Association of Insurance Commissioners and the National Conference of Insurance Regulators for further action.
In describing its contents he said "The wordsmiths did their work very well."
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