Surplus Lines (C) Task Force
Surplus Lines (C) Task Force Page
Joint Executive (EX) / Plenary Committee Summary Report
Fall 2009 Meeting Summaries Index

The Surplus Lines (C) Task Force met September 23, 2009.

During this meeting, the Task Force:

• Discussed the status of federal bill HR 2571: Nonadmitted and Reinsurance Reform Act of 2009 that was approved by voice vote in the House and sent for committee assignment in the Senate.

• Heard results of a survey developed by NAIC staff that polled state’s positions regarding a possible extension of the commercial multi-state license exemption of the Producer Licensing Model to apply to nonresident surplus lines brokers. Staff felt that an insufficient number of survey responses was received and was reluctant to report any consensus of opinion. Staff asked the Task Force for more time to conduct additional research in order to make more informed recommendations on the subject at a future meeting.

• Received a report from the Multi-State Surplus Lines Premium Tax Working Group.

• Considered adoption of the 2010 Task Force Charges. The 2010 charges included a minor wording addition to an existing charge that clarified the activities of the Task Force and one of its Working Groups. Based on the current focus of researching and developing a method for reporting and allocating multi-state surplus lines premium tax, the Task Force amended the priority rating of charge #4 to Essential from Important. Upon amending the charge, the Task Force adopted the 2010 Proposed Charges.