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Article Excerpt INSURANCE ASSOCIATIONS representing brokers who sell excess and surplus lines say they will move aggressively this year to secure passage in Congress of federal legislation reforming and modernizing regulation of the surplus insurance market, as well as support from state agencies.
"We're working very hard to secure passage of legislation that brings the sales and regulatory process for surplus lines agents and brokers into the 21st century," said Mark Rothert, president of Ron Rothert Insurance Services in Portland, Ore.
Mr. Rothert is also the senior vice president of the Western Region for the American Association of Managing General Agents, as well as board liaison to the Governmental Affairs Committee of AAMGA, based in King of Prussia, Pa.
"We're putting together a strong grassroots effort by asking our members to contact their representatives in the House and Senate about bills introduced in the two houses that accomplish our goals," he said.
Richard Bouhan, executive director of the National Association of Professional Surplus Lines Offices, Ltd. in Kansas City, Mo., also said his group's top priority in the upcoming Congress will be to enact surplus lines reform legislation--aimed at streamlining premium tax payments and simplifying compliance requirements on the placement of multistate risks.
He noted that these reforms were contained in Title I of the Nonadmitted and Reinsurance Reform Act, which passed the House unanimously in both the 109th and 110th Congresses. (Last year's House bill, H.R. 1065, was passed by the House in February 2008. The same bill, titled H.B. 5637, passed the House in 2007.)
A similar bill...
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