NU Online News Service, Oct. 24, 1:56 p.m. EST
Ten insurance trade groups have written representatives of states participating in the Nonadmitted Insurance Multistate Agreement (NIMA) in an attempt to get them on board with what is being called the “Kentucky compromise.”
At stake is how surplus lines premium taxes are allocated for multistate placements. States revised their insurance laws to comply with the Nonadmitted and Reinsurance Reform Act (NRRA)—but it gave states the option to adopt tax-sharing agreements.
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