1 BULLETIN 378 Changes to the Nonadmitted Insurance Laws The purpose of this Bulletin is to outline nationwide regulatory changes that will affect the placement of nonadmitted insurance on Maine risks. One of the provisions of last year s Dodd- Frank Wall Street Reform and Consumer Protection Act is the Nonadmitted and Reinsurance Reform Act of 2010 ( NRRA ),1 which establishes federal standards for surplus lines coverage and other nonadmitted insurance. On June 14, 2011, Governor LePage signed An Act To Implement the Requirements of the Federal Nonadmitted and Reinsurance Reform Act of 2010, 2 which provides for the implementation of the NRRA in Maine and conforms Maine s nonadmitted insurance laws to federal law. Both the NRRA and the Maine Implementation Act take effect July 21, The NRRA provides that only an insured s Home State may require the payment of premium tax for nonadmitted insurance.4 Moreover, the NRRA subjects the placement of nonadmitted insurance solely to the statutory and regulatory requirements of the insured s Home State, and provides that only the insured s Home State may require a surplus lines broker to be licensed to sell, solicit, or negotiate nonadmitted insurance with respect to that insured.5 What is the scope of the NRRA? Nonadmitted insurance, as defined in the NRRA, includes both surplus lines and independently procured insurance, but is restricted to property and casualty insurance.6 In addition, the NRRA does not preempt state laws requiring primary or excess workers compensation insurance to be placed in the admitted market.7 Maine s laws prohibiting the sale of life, health, and workers compensation insurance in the nonadmitted market, and regulating the reinsurance market for workers compensation self-insurers, remain in effect and are not preempted, modified, or repealed by the NRRA or by the Maine Implementation Act.8 Specifically, the NRRA states that the placement of nonadmitted insurance is subject to the statutory and regulatory requirements solely of the insured s home state, but that the NRRA may not be construed to preempt any State law, rule, or regulation that restricts the placement of workers compensation insurance or excess insurance for self-funded workers compensation plans with a nonadmitted insurer. 9 The NRRA does not expand the scope of the kinds of insurance that an insurer may write in the nonadmitted insurance market, and each state continues to determine which kinds of insurance an insurer may write in that state. Although the NRRA preempts certain state laws with respect to nonadmitted insurance, it does not have any impact on insurance on Maine risks offered by insurers licensed or authorized in Maine. When is Maine the insured s Home State for purposes of a particular placement? If Maine is considered the insured s Home State, only Maine s requirements regarding the placement of nonadmitted business will apply.
2 Maine is the insured s Home State if the insured maintains its principal place of business here or, in the case of an individual, the individual s principal residence is here, unless 100% of the insured risk is located outside Maine. In addition, if 100% of the insured risk is located outside the state of the insured s principal place of business or principal residence, then Maine is the insured s Home State if it is the state to which the greatest percentage of the insured s taxable premium for that insurance contract is allocated. If more than one insured from an affiliated group are named insureds on a single nonadmitted insurance placement, and the insureds have different Home States, Maine will be considered the Home State for that placement if Maine is the Home State of the insured that has the largest percentage of premium attributed to it under the insurance contract. How will these rules be applied? New and renewal policies with an effective date before July 21, 2011 will be subject to the laws and regulations of Maine and other jurisdictions, as applicable, as of the policy effective date. The laws and regulations of Maine and other jurisdictions, as applicable, as of the effective date of any such policy will also apply to any modification to that policy during the policy period, such as all endorsements (including risk- and premium-bearing endorsements), installment payments, and premium audits. New and renewal policies with an effective date on or after July 21, 2011, and any modifications thereto, will be subject only to the laws and regulations of Maine, as amended by the Maine Implementation Act, if Maine is the Home State of the insured. If Maine is not the Home State of the insured, and the insurer is not admitted in Maine, then Maine law will not apply to property and casualty insurance, with the exception of primary or excess workers compensation insurance covering benefits under the Maine Workers Compensation Act. What are the requirements for premium tax allocation and payment in Maine? Until July 21, 2011, the laws and regulations of Maine and other jurisdictions, as applicable, will continue to apply to premium tax due on multi-state placements. Under current Maine law, only the portion of the premium attributable to Maine risk is subject to Maine premium tax, and this applies whether or not Maine is the insured s Home State.10 As of July 21, 2011, the NRRA permits only the insured s Home State to require the payment of premium tax for nonadmitted insurance. When Maine is the insured s Home State, Maine s 3% nonadmitted insurance premium tax will apply to the entire premium.11 The changes made by the Maine Implementation Act to the procedures for reporting and collecting premium taxes take effect on July 21, 2011, and apply to all premiums received by the insurer or its representative on or after July 1, Under current law, surplus lines tax returns and tax payments are submitted to Maine Revenue Services by the surplus lines producer or surplus lines brokerage (in industry terminology, the wholesaler ), while insureds independently procuring nonadmitted insurance report premiums and pay taxes to the Bureau of Insurance.13 Beginning July 21, 2011, Maine Revenue Services will handle all premium tax reporting and payments with respect to nonadmitted insurance
3 premiums.14 Premium tax forms and information may be found on the Maine Revenue Services Web site at the following address: The NRRA authorizes states to enter into a compact or agreement for allocation of premium taxes on multistate risks.15 The Maine Implementation Act gives the State Tax Assessor the authority to enter into a multistate agreement on behalf of the State of Maine, after consultation with the Bureau of Insurance, if the Assessor has: A. Completed a fiscal analysis of the impact of the agreement that examines the expected effects on the State s gross receipt of premium tax; and B. Concluded, after consultation with representatives of surplus lines insurers, admitted insurers and surplus lines producers, that entering into the agreement: 1. Is in this State s financial best interest; 2. Does not significantly increase administrative burden and cost to the State, surplus lines insurers and insureds; and 3. Is consistent with the requirements of the federal Nonadmitted and Reinsurance Reform Act of 2010, Public Law The Bureau will issue additional guidance if Maine enters into a tax allocation agreement. What are the license requirements for surplus lines producers? Only the insured s Home State may require a surplus lines producer to be licensed to sell, solicit, or negotiate nonadmitted insurance with respect to a particular placement.17 If Maine is the insured s Home State, the surplus lines producer must be licensed in Maine. The NRRA provides that Maine may not collect licensing fees for surplus lines producers on or after July 21, 2012, unless Maine participates in the NAIC s national insurance producer database or any other equivalent uniform national database U.S.C Maine complies with this requirement by participating in the National Insurance Producer Registry (NIPR). What are the requirements for a diligent search and when is a diligent search required? With limited exceptions (wet marine and transportation, out-of-state risks, railroad and aircraft operations in interstate commerce), Maine law currently provides that coverage may only be placed in the surplus lines market if The insurance is not available after diligent effort has been made to place the coverage with authorized insurers. 19 Maine does not mandate any specific procedures for performing a diligent search. On or after July 21, 2011, the NRRA provides that a surplus lines producer seeking to procure or place nonadmitted insurance on behalf of an exempt commercial purchaser is not required to perform a diligent search if: 1) the producer has disclosed to the exempt commercial purchaser that insurance that may provide greater protection with more regulatory oversight may or may not be available from the admitted market; and 2) the exempt commercial purchaser has subsequently requested in writing for the producer to procure or place the insurance from a nonadmitted insurer. The Maine Implementation Act provides that when these conditions are
4 met, a surplus lines producer may procure insurance from eligible surplus lines insurers without adherence to the procedures set forth in section 2004 or any other requirement to determine whether the full amount or type of insurance sought can be obtained from admitted insurers, and incorporates by reference the NRRA s definition of exempt commercial purchaser. 20 What are the eligibility requirements for nonadmitted insurers? Under current Maine law, the Superintendent maintains a list of eligible surplus lines insurers, and a surplus lines producer may not place Maine business with an insurer that is not listed.21 The NRRA restricts the eligibility requirements a state may impose on nonadmitted insurers. Nonadmitted insurers domiciled outside the U.S. are eligible if they are listed on the Quarterly Listing of Alien Insurers maintained by the International Insurers Department of the NAIC. For nonadmitted insurers domiciled in the United States, state eligibility requirements must be in conformance with the financial criteria of the NAIC Nonadmitted Insurance Model Act.22 Accordingly, the Maine Implementation Act adds new Subsections 3 through 5 to 24-A M.R.S.A. 2007, providing that as of July 21, 2011: 3. The superintendent shall approve a United States insurer s request for eligibility if the insurer: A. Is authorized to write such insurance in its domiciliary jurisdiction; B. Has established satisfactory evidence of good repute and financial integrity; and C. Maintains capital and surplus, or its equivalent under the laws of its state of domicile, in an amount at least equal to the greater of: 1. The minimum capital and surplus that would be required if the insurer were licensed in this State; and 2. $15,000, The superintendent may list an insurer as eligible if it does not meet the minimum capital and surplus requirements of subsection 3 upon an affirmative finding of acceptability by the superintendent. The finding must be based upon such factors as quality of management, capital and surplus of any parent company, company underwriting profit and investment income trends, market availability and company record and reputation within the industry. The superintendent may not make an affirmative finding of acceptability if the nonadmitted insurer's capital and surplus is less than $4,500, A non-united States insurer is considered eligible to write insurance on an unauthorized basis in this State if it is listed on the quarterly listing of alien insurers maintained by the National Association of Insurance Commissioners. June 17, 2011 Eric A. Cioppa Acting Superintendent of Insurance
5 NOTE: This bulletin is intended solely for informational purposes. It is not intended to set forth legal rights, duties, or privileges, nor is it intended to provide legal advice. Readers should consult applicable statutes and rules and contact the Bureau of Insurance if additional information is needed. 1 Dodd-Frank Act, Title V, Subtitle B ( 511 et seq.). The provisions regulating the nonadmitted insurance market, NRRA & 527, are codified at 15 U.S.C P.L. 2011, ch. 331 (L.D. 1352). 3 With the exception of the provision of the Maine Implementation Act authorizing the State Tax Assessor to enter into a multistate tax allocation agreement, which took effect on June 14, NRRA 521(a) (15 U.S.C. 8201(a)); 36 M.R.S.A. 2531(1) (effective July 21, 2011). 5 NRRA 522(a) & (b) (15 U.S.C. 8201(a) & (b)); 24-A M.R.S.A A (effective July 21, 2011). 6 NRRA 527(9) (15 U.S.C. 8206(9)); 24-A M.R.S.A. 2003(8) (effective July 21, 2011). 7 NRRA 522(d) (15 U.S.C. 8202(d)) A M.R.S.A A(1); 39-A M.R.S.A. 102(19) & 403(10) (11); Bureau of Insurance Rule NRRA 522 (15 U.S.C. 8202) A M.R.S.A. 2016(2) (repealed July 21, 2011) M.R.S.A (as amended effective July 21, 2011). 12 P.L. 2011, ch. 331, A M.R.S.A (repealed July 21, 2011); 36 M.R.S.A & 2521-A M.R.S.A (as amended effective July 21, 2011) & 2531(effective July 21, 2011). 15 NRRA 521(b) & (c) (15 U.S.C. 8201(b) & (c)) M.R.S.A. 2532(2) (effective June 14, 2011). 17 NRRA 522(b) (15 U.S.C. 8202(b)). The NRRA uses the term broker in place of producer.
6 18 NRRA 523 (15 U.S.C. 8203) A M.R.S.A A(3) & 2004(4) A M.R.S.A A(3)(E) & 2003(6) (effective July 21, 2011) A M.R.S.A NRRA 524 (15 U.S.C. 8204). Appendix: Key Definitions from the NRRA Exempt commercial purchaser (NRRA 527(5) (15 U.S.C. 8206(5); see 24-A M.R.S.A. 2003(6)): The term exempt commercial purchaser means any person purchasing commercial insurance that, at the time of placement, meets the following requirements: (A) The person employs or retains a qualified risk manager to negotiate insurance coverage. (B) The person has paid aggregate nationwide commercial property and casualty insurance premiums in excess of $100,000 in the immediately preceding 12 months. (C) (i) The person meets at least 1 of the following criteria: (I) The person possesses a net worth in excess of $20,000,000, as such amount is adjusted pursuant to clause (ii). (II) The person generates annual revenues in excess of $50,000,000, as such amount is adjusted pursuant to clause (ii). (III) The person employs more than 500 full-time or full-time equivalent employees per individual insured or is a member of an affiliated group employing more than 1,000 employees in the aggregate. (IV) The person is a not-for-profit organization or public entity generating annual budgeted expenditures of at least $30,000,000, as such amount is adjusted pursuant to clause (ii). (V) The person is a municipality with a population in excess of 50,000 persons. (ii) Effective on the fifth January 1 occurring after the date of the enactment of this subtitle and each fifth January 1 occurring thereafter, the amounts in subclauses (I), (II), and (IV) of clause (i) shall be adjusted to reflect the percentage change for such 5-year period in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor. Home State (NRRA 527(6) (15 U.S.C. 8206(6); see 24-A M.R.S.A. 2003(4) (5) & (7)): (A) In General. Except as provided in subparagraph (B), the term home State means, with respect to an insured
7 (i) the State in which an insured maintains its principal place of business or, in the case of an individual, the individual s principal residence; or (ii) if 100 percent of the insured risk is located out of the State referred to in clause (i), the State to which the greatest percentage of the insured s taxable premium for that insurance contract is allocated. (B) Affiliated Groups. If more than 1 insured from an affiliated group are named insureds on a single nonadmitted insurance contract, the term home State means the home State, as determined pursuant to subparagraph (A), of the member of the affiliated group that has the largest percentage of premium attributed to it under such insurance contract. Independently procured insurance (NRRA 527(7) (15 U.S.C. 8206(7); see 24-A M.R.S.A. 2101(2)(F)): The term independently procured insurance means insurance procured directly by an insured from a nonadmitted insurer. Nonadmitted insurance (NRRA 527(9) (15 U.S.C. 8206(9); see 24-A M.R.S.A. 2003(8)): The term nonadmitted insurance means any property and casualty insurance permitted to be placed directly or through a surplus lines broker with a nonadmitted insurer eligible to accept such insurance. Nonadmitted insurer (NRRA 527(11) (15 U.S.C. 8206(11); see 24-A M.R.S.A. 2003(9)): The term nonadmitted insurer (A) means, with respect to a State, an insurer not licensed to engage in the business of insurance in such State; but (B) does not include a risk retention group, as that term is defined in section 2(a)(4) of the Liability Risk Retention Act of 1986 (15 U.S.C. 3901(a)(4)). Premium tax (NRRA 527(12) (15 U.S.C. 8206(12)): The term premium tax means, with respect to surplus lines or independently procured insurance coverage, any tax, fee, assessment, or other charge imposed by a government entity directly or indirectly based on any payment made as consideration for an insurance contract for such insurance, including premium deposits, assessments, registration fees, and any other compensation given in consideration for a contract of insurance. Qualified risk manager (NRRA 527(13) (15 U.S.C. 8206(13)): The term qualified risk manager means, with respect to a policyholder of commercial insurance, a person who meets all of the following requirements: (A) The person is an employee of, or third-party consultant retained by, the commercial policyholder. (B) The person provides skilled services in loss prevention, loss reduction, or risk and insurance coverage analysis, and purchase of insurance. (C) The person
8 (i) (I) has a bachelor s degree or higher from an accredited college or university in risk management, business administration, finance, economics, or any other field determined by a State insurance commissioner or other State regulatory official or entity to demonstrate minimum competence in risk management; and (II) (aa) has 3 years of experience in risk financing, claims administration, loss prevention, risk and insurance analysis, or purchasing commercial lines of insurance; or (bb) has (AA) a designation as a Chartered Property and Casualty Underwriter (in this subparagraph referred to as CPCU ) issued by the American Institute for CPCU/Insurance Institute of America; (BB) a designation as an Associate in Risk Management (ARM) issued by the American Institute for CPCU/Insurance Institute of America; (CC) a designation as Certified Risk Manager (CRM) issued by the National Alliance for Insurance Education & Research; (DD) a designation as a RIMS Fellow (RF) issued by the Global Risk Management Institute; or (EE) any other designation, certification, or license determined by a State insurance commissioner or other State insurance regulatory official or entity to demonstrate minimum competency in risk management; (ii) (I) has at least 7 years of experience in risk financing, claims administration, loss prevention, risk and insurance coverage analysis, or purchasing commercial lines of insurance; and (II) has any 1 of the designations specified in subitems (AA) through (EE) of clause (i)(ii)(bb); (iii) has at least 10 years of experience in risk financing, claims administration, loss prevention, risk and insurance coverage analysis, or purchasing commercial lines of insurance; or (iv) has a graduate degree from an accredited college or university in risk management, business administration, finance, economics, or any other field determined by a State insurance commissioner or other State regulatory official or entity to demonstrate minimum competence in risk management. Surplus lines broker (NRRA 527(15) (15 U.S.C. 8206(15); see 24-A M.R.S.A. 2003(1)): The term surplus lines broker means an individual, firm, or corporation which is licensed in a State to sell, solicit, or negotiate insurance on properties, risks, or exposures located or to be performed in a State with nonadmitted insurers. State (NRRA 527(16) (15 U.S.C. 8206(16)): The term State includes any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa.
TO: ALL UNAUTHORIZED INSURERS PARTICIPATING IN THE ILLINOIS SURPLUS LINES MARKET, LICENSED SURPLUS LINE PRODUCERS, AND THE SURPLUS LINE ASSOCIATION OF ILLINOIS FROM: JACK MESSMORE, ACTING DIRECTO DATE:
OFFICE OF INSURANCE AND SAFETY FIRE COMMISSIONER RALPH T. HUDGENS COMMISSIONER OF INSURANCE SAFETY FIRE COMMISSIONER INDUSTRIAL LOAN COMMISSIONER COMPTROLLER GENERAL BULLETIN 11-EX-3 SEVENTH FLOOR, WEST
C.L. BUTCH OTTER Governor State of Idaho DEPARTMENT OF INSURANCE 700 West State Street, 3rd Floor P.O. Box 83720 Boise, Idaho 83720-0043 Phone (208) 334-4250 FAX (208) 334-4398 http://www.doi.idaho.gov
TO: SLSOT E-Bulletin Subscriber DATE: June 23, 2011 Guidelines for Texas Surplus Lines Agents Compliance with the Nonadmitted & Reinsurance Reform Act This information is provided by the to provide general
market bulletin Ref: Y4500 Title Purpose Type From NRRA U.S. Surplus/Excess Lines Lloyd s market s transitional arrangements in response to Subtitle B, Title V of the Dodd-Frank Act, regarding state-based
Ohio Legislative Service Commission Bill Analysis Michel Jendretzky S.B. 102 129th General Assembly (As Introduced) Sen. Bacon BILL SUMMARY Conforms Ohioʹs law regulating surplus lines products with the
House Bill 959 Economic Matters Department of Legislative Services Maryland General Assembly 2011 Session FISCAL AND POLICY NOTE Revised (Delegate Davis) Insurance - Surplus Lines HB 959 Finance This bill
Enacted Law Bulletin June 23, 2011 State: Topic: Impact: Alabama Alabama Enacts SLIMPACT Law Not Line Specific Effective Date: September 1, 2011 Bill Number: H-76 PCI Legislative Analyst: Tina Crum, 847-553-3804
64th Legislature HB0094 AN ACT ALLOWING NATURAL DISASTER MULTIPERIL INSURANCE TO BE SOLD AS SURPLUS LINES INSURANCE; AMENDING SECTIONS 33-2-301 AND 33-2-302, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE.
Article 21. Surplus Lines Act. 58-21-1. Short title. This Article shall be known and may be cited as the "Surplus Lines Act". (1985, c. 688, s. 1.) 58-21-2. Relationship to other insurance laws. Unless
New York INSURANCE LAW CHAPTER 28 OF THE CONSOLIDATED LAWS Article 21 AGENTS, BROKERS, ADJUSTERS, CONSULTANTS AND INTERMEDIARIES Ins. Law s 2101 Definitions Former Citations Law s 114 Ins. Law s 123; Ins.
THE NON-ADMITTED AND REINSURANCE REFORM ACT AND NEW JERSEY'S SURPLUS LINES INSURANCE GUARANTY ASSOCIATION Susan Stryker, Esq. BRESSLER, AMERY & ROSS, P.C. (973) 966-9681 Any article addressing the implementation
6301. Special risks; filing exemption. * (a) Notwithstanding any provision of this chapter, the superintendent shall, pursuant to regulations promulgated by him, permit exemption from filing requirements
H. R. 3606 10 have any person associated with that person subject to such a statutory disqualification. (3) For the purposes of this subsection, the term ancillary services means (A) the provision of due
Chapter 73 EXEMPT COMMERCIAL POLICYHOLDERS 001. Purpose and scope. 001.01 The purpose of this chapter is to implement sections 15 and 16 of LB 1119, passed in the 2000 session of the Nebraska Legislature
Article 21. Surplus Lines Act. 58-21-1. Short title. This Article shall be known and may be cited as the "Surplus Lines Act". (1985, c. 688, s. 1.) 58-21-2. Relationship to other insurance laws. Unless
The Florida Senate BILL ANALYSIS AND FISCAL IMPACT STATEMENT (This document is based on the provisions contained in the legislation as of the latest date listed below.) BILL: CS/CS/SB 1408 Prepared By:
Senate Bill 347 By: Senator Bethel of the 54th A BILL TO BE ENTITLED AN ACT 1 2 3 4 5 6 To amend Title 33 of the Official Code of Georgia Annotated, relating to insurance, so as to provide for extensive
Reinsurance (E) Task Force A new model The NAIC solicits comments on this draft. The working draft of the Non-Universal Life and Universal Life with Secondary Guarantees is available at http://naic.org/committees_e_reinsurance.htm.
GENERAL ASSEMBLY OF NORTH CAROLINA 1987 SESSION CHAPTER 310 SENATE BILL 310 AN ACT TO AMEND THE PRODUCT LIABILITY RISK RETENTION GROUP LAW BY REFLECTING THE FEDERAL RISK RETENTION AMENDMENTS OF 1986 IN
TITLE 42 - THE PUBLIC HEALTH AND WELFARE CHAPTER 120 - ENTERPRISE ZONE DEVELOPMENT 11501. Designation of enterprise zones (a) Designation of zones (1) Enterprise zone defined For purposes of this section,
HOUSE OF REPRESENTATIVES FINAL BILL ANALYSIS BILL #: CS/CS/HB 1133 FINAL HOUSE FLOOR ACTION: SPONSOR(S): COMPANION BILLS: Regulatory Affairs Committee; Insurance & Banking Subcommittee; Fant and others
State of Delaware Department of Insurance Surplus Lines Brokers Procedures Manual V 01-01-2007 TABLE OF CONTENTS Page i Preface... ii Insurance Department Contacts... iii Part 1: Surplus Lines Background
COMMONWEALTH OF KENTUCKY DEPARTMENT OF INSURANCE FRANKFORT, KENTUCKY REVISED BULLETIN 2014-01 TO: FROM: RE: All Insurance Companies and Surplus Lines Brokers Subject To Kentucky Local Government Premium
AN ACT relating to insurance. Be it enacted by the General Assembly of the Commonwealth of Kentucky: Section 1. KRS 304.3-400 is amended to read as follows: As used in KRS 304.3-400 to 304.3-430, unless
TITLE III--CROWDFUNDING SEC. 301. SHORT TITLE. This title may be cited as the Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act of 2012 or the CROWDFUND Act of 2012. SEC. 302.
EXCESS AND SURPLUS LINES LAWS IN THE UNITED STATES Including Direct Procurement Tax Laws and Industrial Insured Exemptions John P. Dearie, Jr. Editor INSURE REINSURE REALLY SURE Excess and Surplus Lines
OHIO S TAX REFORM OF THE NON-ADMITTED INSURANCE MARKET. Robert H. Katz, Esq. 614.227.2397 As part of a significant and major overhaul of its business taxes, Ohio after a contentious legislative process
304.10-400 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance Multi-State Compliance Compact is hereby enacted into law and entered into by this state with any other states
FEDERAL LIABILITY RISK RETENTION ACT OF 1986 15 USC 3901-3906 (1981, as amended 1986) Sec. 3901 DEFINITIONS [Section 2]* Sec. 3902 RISK RETENTION GROUPS [Section 3] (a) EXEMPTION FROM STATE LAWS, REGULATIONS
THE SENATE TWENTY-EIGHTH LEGISLATURE, 0 STATE OF HAWAII A BILL FOR AN ACT RELATING TO INSURANCE BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII: PART I SECTION. Chapter, Hawaii Revised Statutes,
TITLE 12 - BANKS AND BANKING CHAPTER 53 - WALL STREET REFORM AND CONSUMER PROTECTION 5301. Definitions As used in this Act, the following definitions shall apply, except as the context otherwise requires
Title 36: TAXATION Chapter 357: INSURANCE COMPANIES Table of Contents Part 4. BUSINESS TAXES... Section 2511. COMPANIES TAXABLE; RATE... 3 Section 2512. ANNUAL RETURNS TO SUPERINTENDENT OF INSURANCE...
Maine State Library Maine State Documents Insurance Documents Professional and Financial Regulation 1-2015 The Availability of Insurance in the Maine Property & Casualty Market 2015 Maine Bureau of Insurance
PLEASE NOTE: Legislative Information cannot perform research, provide legal advice, or interpret Maine law. For legal assistance, please contact a qualified attorney. Be it enacted by the People of the
Article 8B. Taxes Upon Insurance Companies. 105-228.3. Definitions. The following definitions apply in this Article: (1) Article 65 corporation. - A corporation subject to Article 65 of Chapter 58 of the
H. R. 3606 One Hundred Twelfth Congress of the United States of America AT THE SECOND SESSION Begun and held at the City of Washington on Tuesday, the third day of January, two thousand and twelve An Act
FORC QUARTERLY JOURNAL OF INSURANCE LAW AND REGULATION Summer 1998 June 20, 1998 Vol. X, Edition II CAPTIVE INSURANCE COMPANIES AND WORKERS COMPENSATION GROUP FUNDS IN THE SOUTHEAST: A COMPARATIVE VIEW
Session of 00 HOUSE BILL No. 0 By Committee on Insurance - 0 0 AN ACT enacting the Kansas professional employer organization licensing act. Be it enacted by the Legislature of the State of Kansas: Section.
CLIENT UPDATE NEW YORK INSURANCE HOLDING COMPANY LAW AND REGULATION AMENDMENTS 2013 NEW YORK Eric R. Dinallo email@example.com Ethan T. James firstname.lastname@example.org Thomas M. Kelly email@example.com
Excess and Surplus Lines Laws in the United States Including Direct Procurement Tax Laws and Industrial Insured Exemptions John P. Dearie, Jr., Editor Atlanta Austin Boston Chicago Dallas Hartford Hong
PHIL BREDESEN GOVERNOR STATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE 500 JAMES ROBERTSON PARKWAY NASHVILLE, TENNESSEE 37243-5065 615-741-6007 BULLETIN PAULA A. FLOWERS COMMISSIONER TO: FR: RE:
Title 24-A: MAINE INSURANCE CODE Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY HEADING: PL 1991, c. 615, Pt. D, 1 (new) Table of Contents Section 3701. PURPOSE... 3 Section 3702. DEFINITIONS...
The Terrorism Risk Insurance Act of 2002 (TRIA), as amended by the Terrorism Risk Insurance Extension Act of 2005 (TRIEA) and the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA) Prepared
STATE OF OKLAHOMA nd Session of the rd Legislature () HOUSE BILL AS INTRODUCED By: Quinn An Act relating to labor; amending 0 O.S., Section 00., which relates to renewal of registration by professional
THE BEACON MUTUAL INSURANCE COMPANY CHARTER Rhode Island Public Laws 2003, Chapter 410, enacted August 6, 2003; as amended by Rhode Island Public Laws 2005, Chapter 117, Article16, Section10, enacted July
Bulletin 304 AN ACT TO UPDATE AND AMEND THE PREFERRED PROVIDER ARRANGEMENT The following additions and revisions to the Preferred Provider Arrangement Act, Title 24-A M.R.S.A. Chapter 32 and the Health
Control Number (Treasury use) Schedule A TERRORISM RISK INSURANCE PROGRAM DECLARATION OF DIRECT EARNED PREMIUM AND CALCULATION OF INSURER DEDUCTIBLE UNDER TERRORISM RISK INSURANCE ACT (TRIA) Insurer or
DISTRICT OF COLUMBIA OFFICIAL CODE TITLE 31. INSURANCE AND SECURITIES. CHAPTER 50B. TITLE INSURANCE PRODUCERS. 2001 Edition DISTRICT OF COLUMBIA OFFICIAL CODE CHAPTER 50B. TITLE INSURANCE PRODUCERS. TABLE
NEBRASKA DEPARTMENT OF INSURANCE P.O. BOX 82089 LINCOLN, NE 68501-2089 Requirements For Transacting Business as a Managing General Agent Article 49 Managing General Agents Section 44-4901 Act, how cited.
BILL: SB 286 The Florida Senate BILL ANALYSIS AND FISCAL IMPACT STATEMENT (This document is based on the provisions contained in the legislation as of the latest date listed below.) Prepared By: The Professional
VOLUNTEER PROTECTION ACT OF 1997 111 STAT. 218 PUBLIC LAW 105 19 JUNE 18, 1997 June 18, 1997 [S. 543] Volunteer Protection Act of 1997. 42 USC 14501 note. 42 USC 14501. Public Law 105 19 105th Congress
ASSEMBLY, No. STATE OF NEW JERSEY th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 0 SESSION Sponsored by: Assemblyman JOHN J. BURZICHELLI District (Salem, Cumberland and Gloucester) Co-Sponsored by: Assemblyman
CHAPTER 26.1-31.1 REINSURANCE INTERMEDIARIES 26.1-31.1-01. Definitions. As used in this chapter: 1. "Actuary" means a person who is a member in good standing of the American academy of actuaries. 2. "Controlling
House Bill 325 (AS PASSED HOUSE AND SENATE) By: Representatives Ehrhart of the 36 th, Casas of the 103 rd, and Dutton of the 166 th A BILL TO BE ENTITLED AN ACT 1 2 3 4 5 6 To amend Titles 20 and 48 of
HOUSE BILL NO. 0 INTRODUCED BY R. BRODEHL A BILL FOR AN ACT ENTITLED: "AN ACT GENERALLY REVISING LAWS RELATED TO FARM MUTUAL INSURANCE; PROVIDING A MANAGING GENERAL AGENT WAIVER TO CERTAIN PERSONS HANDLING
INSURANCE DEPARTMENT OF BANKING AND INSURANCE OFFICE OF SOLVENCY REGULATION Annual Audited Financial Reports Qualifications of Independent Certified Public Accountants Proposed Amendments: N.J.AC. 11:2-26.3
FOR APPROVAL UNIFORM EMERGENCY VOLUNTEER HEALTHCARE PRACTITIONERS ACT NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS MEETING IN ITS ONE-HUNDRED-AND-FIFTEENTH YEAR HILTON HEAD, SOUTH CAROLINA
CHAPTER 5. INSURANCE TAXES Formerly, the major insurance tax in Oregon was the gross premium tax, which was based on premiums written for insurance policies in Oregon. This tax was repealed and was replaced
INSURANCE 43 NJR 10(2) October 17, 2011 Filed September 21, 2011 DEPARTMENT OF BANKING AND INSURANCE OFFICE OF CONSUMER PROTECTION SERVICES Producer Licensing Participation in National Insurance Producer
1081. Short title Louisiana Revised Statutes Title 6 Banks and Banking Chapter 14. Residential Mortgage Brokers and Lenders Part I. General Provisions (Current through 2015 Regular Legislative Session)
1 PROFESSIONAL EMPLOYER ORGANIZATION 2 RELATED AMENDMENTS 3 2007 GENERAL SESSION 4 STATE OF UTAH 5 Chief Sponsor: James A. Dunnigan 6 Senate Sponsor: Curtis S. Bramble 7 8 LONG TITLE 9 General Description:
MARYLAND HIGHER EDUCATION COMMISSION CODE OF MARYLAND REGULATIONS 13B.05.01 Fully Online Programs - Registration As amended through October 28, 2013 This document contains a chapter of the Code of Maryland
1 0 1 TITLE VIII PAYMENT, CLEARING AND SETTLEMENT SUPERVISION SEC. 01. SHORT TITLE. This title may be cited as the Payment, Clearing, and Settlement Supervision Act of 00. SEC. 0. FINDINGS AND PURPOSES.
HOUSE OF REPRESENTATIVES FINAL BILL ANALYSIS BILL #: HB 291 FINAL HOUSE FLOOR ACTION: SPONSOR(S): Santiago 115 Y s 0 N s COMPANION BILLS: SB 496 GOVERNOR S ACTION: Approved SUMMARY ANALYSIS HB 291 passed
CHAPTER 260 AN ACT concerning employee leasing companies. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey: C.34:8-67 Definitions relative to employee leasing companies. 1. For
Maine Revised Statutes Title 24-A: MAINE INSURANCE CODE Chapter 26: THE WORKERS' COMPENSATION RESIDUAL MARKET DEFICIT RESOLUTION AND RECOVERY ACT HEADING: PL 1995, c. 289, 11 (new) 2392. DEFINITIONS As
H. R. 4173 One Hundred Eleventh Congress of the United States of America AT THE SECOND SESSION Begun and held at the City of Washington on Tuesday, the fifth day of January, two thousand and ten An Act
S. 250 One Hundred Ninth Congress of the United States of America AT THE SECOND SESSION Begun and held at the City of Washington on Tuesday, the third day of January, two thousand and six An Act To amend
An Act ENROLLED HOUSE BILL NO. 2446 By: Quinn of the House and Brinkley of the Senate An Act relating to labor; amending 40 O.S. 2011, Section 600.4, which relates to renewal of registration by professional
HOUSE OF REPRESENTATIVES STAFF ANALYSIS BILL #: CS/HB 1429 Florida Workers' Compensation Joint Underwriting Association, Inc. SPONSOR(S): Jobs & Entrepreneurship Council; Grant TIED BILLS: IDEN./SIM. BILLS:
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2013 SESSION LAW 2013-116 HOUSE BILL 473 AN ACT TO ENACT THE NORTH CAROLINA CAPTIVE INSURANCE ACT. The General Assembly of North Carolina enacts: SECTION 1. Article
Chapter III -- POLICY AND CERTIFICATE PROVISIONS Subchapter B. -- Property and Casualty Insurance Part 71. -- Legal Defense Costs in Liability Policies (Regulation 107) Updated with all regulations adopted
S-.1 SUBSTITUTE SENATE BILL 0 State of Washington th Legislature 0 Regular Session By Senate Commerce & Labor (originally sponsored by Senators Warnick and Conway) READ FIRST TIME 0/0/. 1 AN ACT Relating
This rule was filed as 13 NMAC 4.5. TITLE 13 CHAPTER 4 PART 5 INSURANCE LICENSING OF INSURANCE PROFESSIONALS INSURANCE ADMINISTRATORS 184.108.40.206 ISSUING AGENCY: New Mexico State Corporation Commission [Public
Kansas Basic Property Insurance Inspection and Placement Program (a) Definitions. (1) All-Industry Placement Facility or Facility means the organization formed by insurers to assist applicants in securing