E-News July 27, 2005

Review of Proposed Optional Federal Charter Bill
B&D Sagamore has provided a background paper on the proposed National Insurance Act (NIA), which contains the framework for an Optional Federal Charter, which could radically change the surplus lines industry if passed.  

B&D Sagamore was retained by NAPSLO in May 2005 to provide the Association with representation and lobbying in Washington, D.C. for both Congress and Executive Branch agencies.

By allowing an Optional Federal Charter, the draft NIA could allow an insurer to write insurance in all 50 states without the burden of satisfying each state's licensing requirements, rate and form regulations, and other standards. Copies of the B&D Sagamore background paper and a summary of the National Insurance Act are available for download from the NAPSLO website. 

State Legislative Action on Producer Compensation
Despite all the sound and fury only two states, Connecticut and Texas, enacted legislation regarding disclosure of producer compensation since the investigations by New York Attorney General Eliot Sptizer raised the issue in October.  

In both instances, the law enacted tracked the NAIC/NCOIL model proposals and included a specific exemption for surplus lines placements and an exemption for wholesale intermediaries. Both the NAIC and NCOIL models are inapplicable to surplus lines placements and exempt wholesale intermediaries from the disclosure requirements.

New design for E-News
NAPSLO recently redesigned the format of the E-News e-mails sent to members. The new design coordinates with the web site, however individuals with mobile devices or email programs that do not handle graphical email should automatically receive a text version.

E-News is a monthly update on Association and industry information which is sent to all members. For more updated NAPSLO information, view the NAPSLO Blog.

 Convention Registration near record levels
With two months to go prior the 2005 NAPSLO Annual Convention, approximately 2,900 people have registered for the meeting, more than the 2,850 total for the 2004 Annual Convention.

The convention is scheduled for September 14-18 at the San Francisco Marriott. The Opening Reception is Wednesday and programs are set for Friday and Saturday. Columnist George Will is the Derek Hughes/NAPSLO Educational Foundation Lecture Series speaker on Friday morning and a special Legislative Breakfast, featuring Maria Berthoud of B&D Sagamore, NAPSLO's new lobbying firm, who will review the current legislative scene. If you haven't registered for the breakfast, contact Vicky Fleming at vicky@napslo.org. 

 NAPSLO Membership Renewals
NAPSLO recently sent out membership renewal invoices and dues should be remitted to NAPSLO by August 1. 

Firms sending representatives to the annual convention in San Francisco must renew their membership. Second notices were recently mailed.

 Upcoming NAPSLO Events
Annual Convention - September 14-18, 2005 - San Francisco
Advanced School - November 5-8, 2005 - Dallas
Mid-Year Educational Workshop - February 16-19, 2006 - Phoenix