NU Online News Service, Nov. 23, 3:51 p.m. EST
WASHINGTON–The National Council of Insurance Legislators' passed a revised version of its "SLIMPACT" proposal to implement the federal law modernizing the surplus lines industry, but it did so without support from the National Association of Insurance Commissioners.
The SLIMPACT proposal passed Sunday at the NCOIL annual meeting in Austin is acceptable to industry as an implementation vehicle for the law, the Nonadmitted and Reinsurance Reform Act (NRRA), according to officials of various trade groups representing underwriters and brokers.
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