The Texas Surplus Lines Association announced their support of House Bill 5637, a new federal bill to reform surplus lines regulation.
The bill, sponsored by Ginny Brown-Waite, R-Fla. and Dennis Moore D-Kan., and co-sponsored By Pete Sessions, R-Texas, and many others, addresses uniform regulations for payment and allocations of premium taxes, regulation of non admitted insurance by the insured’s home state, participation in the national producer data base, uniforms standards for surplus lines eligibility and streamlined applications for commercial purchasers.
TSLA noted that the legislation has been a long time coming and provides a mechanism in which all states can work together for uniform procurement of surplus lines insurance allowing regulation to remain at the state level.
The group urged members of the Texas Surplus Lines Association to contact their United States congressional representatives and ask that they join the growing list of cosponsors.
Source: Texas Surplus Lines Association
Topics Texas Legislation Excess Surplus
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