The National Association of Insurance Commissioners will likely adopt a minimal plan to collect surplus lines insurance taxes without tackling the bigger issue of uniform regulation between the states after an association's task force vote last week.
Regulators on the Surplus Lines Implementation Task Force, and other interested parties, met on a conference call Tuesday afternoon to decide on what plan to present to their legislators at the beginning of the year.
Ultimately, the task force decided on a "bare bones" approach, said Louisiana Insurance Commissioner James J. Donelon, chair of the NAIC's Surplus Lines Implementation Task Force. The plan addresses the collection and allocation of premium taxes from the excess and surplus lines industry, but does not deal with the issue of uniformity of regulation that the industry is pushing for. The regulation issues include insurer eligibility and licensing between states, said Mr. Donelon.
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.