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S. 929, The Nonadmitted and Reinsurance Reform Act of 2007
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Visitor Comments
TX SL Broker
This bill provides an absolute improvement over the current system of self-imposed “individual state authority” on a multi-state commercial risk. Our current system provides a surplus lines broker with 50 different and conflicting laws. It is truly impossible for just 7 states to agree on the color of grass, let alone the allocation of an insurance policy’s tax. Try finding one insurance department employee that can “correctly” tell the out of state broker how to file the allocated tax… 98.3% have it wrong 100% of the time.
Next Step – One “Multi-State Surplus Lines Stamping Office” with one “Multi-State Tax Allocation Form.”
(…maybe by the year 2205)