NU Online News Service, Nov. 16, 3:09 p.m. EST
WASHINGTON–The Property Casualty Insurers Association of America (PCI) said the model law proposed by a state regulatory task force to implement the surplus lines modernization law does not support the intent of the federal law.
Nor, PCI said in a letter to the National Association of Insurance Commissioners' task force, does the proposed model law "fulfill the spirit and letter" of the law, the Nonadmitted and Reinsurance Reform Act (NRRA).
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