I am delighted to report that more than 3,100 people have registered for this year's convention. Despite the economic times and industry cycle that we're all enduring, your attendance once again demonstrates that this meeting is one of your most important business events.
For many years, NAPSLO has been working on ways to improve the regulatory framework we must work under and we have focused on getting the surplus lines reforms in the NonAdmitted and Reinsurance Reform Act enacted into law. With financial services reforms under discussion, the leadership efforts of the our Legislative Committee, NAPSLO staff and B&D Consulting (NAPSLO's Washington D.C. representative) enabled us to use this opportunity to secure inclusion of the NRRA into the bill, which was signed into law this past July and will take effect next July.
The surplus lines modernization provisions will make access for insurance consumers to the surplus lines market quicker, more efficient and the payment of surplus lines premium taxes to the states less burdensome for the consumer and broker. The legislation also establishes that only one state, the home state of the insured, can regulate a multistate surplus lines transaction.
While legislative issues have dominated industry discussions recently, there are a number of other areas NAPSLO focuses on, and we will highlight two areas in convention programs on current technology and workplace issues.
The first program, London Technology Update–Standardizing Data Transfer Across the Pon d, is set for this afternoon from 1:00-2:00 p.m. The program will provide a review of proposals by Lloyd's of London to standardize data collection between U.S. and London firms; recent efforts by the Retail Agent E&S Working Group to involve London firms; and the Working Group's efforts to improve data transfer between firms in the U.S.
On Tuesday afternoon at 3:00 p.m., NAPSLO's Next Generation Group will follow-up last year's intergenerational workplace issues panel with another program on the topic, followed by a reception for Next Generation members at the High Velocity Lounge in the Marriott.
Our main programs are Wednesday morning, and William R. Berkley of the W.R. Berkley Corporation will be the Derek Hughes/NAPSLO Educational Foundation Lecture Series speaker. In addition, we will recognize a number of our members, interns and Associate in Surplus Lines Insurance conferees on Wednesday.
Of course, the traditional networking opportunities–the Opening Reception, the Brokers' Lounge and Brokers Club Tables–have all been orchestrated to make your time here as productive as possible.
On behalf of the NAPSLO Board and Staff…welcome to Atlanta!
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