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By the time this column is printed, surplus line insurers and brokers will have roughly 45 days to adjust to the biggest change to impact their business in generations. The Non-admitted and Reinsurance Reform Act (NRRA) will stand many long-held assumptions on their heads. Surplus line brokers, corporate risk managers and property-casualty insurance underwriters will see regulatory Darwinism in action beginning July 21, the day that the NRRA takes effect.

Louie Castoria

PropertyCasualty360

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