US Regulatory change and Surplus lines. Steve Yates, Manager, International Regulatory Affairs Giles Taylor, Manager, International Regulatory Affairs 27 July 2011. Agenda. Focus on surplus lines implications of the Non-Admitted And Reinsurance Reform Act (Title V, Subtitle B, Part I,
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US Regulatory change and Surplus lines
Steve Yates, Manager, International Regulatory Affairs
Giles Taylor, Manager, International Regulatory Affairs
27 July 2011
And Reinsurance Reform Act (Title V, Subtitle B, Part I,
"the letter and spirit of the NRRA [are] to provide a simpler, uniform tax reporting and payment process....“, Rep Dennis Moore, sponsor of the NRRA Bill
‘Congress intends that each State adopt nationwide uniform requirements, forms and procedures….’, Dodd-Frank S.521 (b) 4.
Net worth in excess of $20 million
More than 500 full time employees
If a municipality population more than 50,000
If an NFP, annual expenditure of $30 million
Annual revenue in excess of $50 million