Klein is of counsel
to the Washington
February 18, 2019
A broker fee is a fee in addition to premium and commission that is charged by retail and wholesale insurance brokers and that ultimately is paid by the insurance buyer. Such fees are subject to two overriding rules: (1) they …
November 5, 2012
The National Association of Insurance Commissioners (NAIC) acts as the trade association for state insurance commissioners. The Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) delegated to the NAIC responsibility for determining whether an alien insurer (i.e., an insurer domiciled …
March 19, 2012
Recent data from Florida indicate that the economics for a multistate surplus lines tax allocation clearinghouse are unworkable. There simply is not enough multistate surplus lines tax to support the cost of a clearinghouse. This is not new information. (See …
February 27, 2012
Recent data from Florida indicate that the economics for a multistate surplus lines tax allocation clearinghouse are unworkable. There simply is not enough multistate surplus lines tax to support the cost of a clearinghouse. This is not new information. (See …
July 21, 2011
Welcome to the magical mystery tour of Home State taxation and regulation under Nonadmitted Insurance and Reinsurance Reform Act of 2010 (NRRA). The NRRA went live at 12:01 a.m., July 21, 2011, in all time zones. You may have been …
June 17, 2011
California is expected to pass surplus lines regulations before July 21, 2011. On that date, the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) becomes effective, and only the “insured’s home state” may tax surplus lines premium and regulate surplus …
March 23, 2011
Pending state legislative proposals, such as California’s AB 315, that would implement the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) are akin to the fly in the ointment. The NRRA becomes effective on July 21, 2011, which also is …
March 8, 2011
The Nonadmitted and Reinsurance Reform Act (NRRA), Subtitle B, Part I, Dodd-Frank Wall Street Reform and Consumer Protection Act, reaches out and touches California on July 21, 2011. In anticipation of its effective date, the California Department of Insurance (CDI) …
March 1, 2011
A California legislator has proposed a surplus lines bill — one effect of which will reduce California’s surplus lines premium tax revenues. On Feb. 9, 2011, California Assembly Member Solario introduced Assembly Bill No. 315 (AB 315), the California Department …
February 10, 2011
The Nonadmitted and Reinsurance Reform Act (NRRA), Subtitle B, Part I, Dodd-Frank Wall Street Reform and Consumer Protection Act, will usher in a new era of premium taxation and regulation for surplus lines insurance on July 21, 2011, a convenient …