WASHINGTON--Lobbying for passage of federal legislation aimed at modernizing the regulation of the surplus lines market along with companion state compacts will be the major focus of excess and surplus lines associations in 2008, association executives said.
The major piece of federal legislation toward that goal, the Nonadmitted and Reinsurance Reform Act (H.R. 1065), was passed by the House of Representatives last June.
"With Congress having acted on the Terrorism Risk and Insurance Act Extension and the Federal Flood Insurance Program legislation, NAPSLO is optimistic that the Senate will turn its attention to the NRRA and pass it," said Mike Ardis, spokesman for National Association of Professional Surplus Lines Offices based in Kansas City, Mo. He added that this is the association's highest legislative priority in 2008.
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