E-News October 29, 2004

STATEMENT ON NEW YORK ATTORNEY GENERAL'S INVESTIGATION
Richard Polizzi, President of the National Association of Professional Surplus Lines Offices (NAPSLO), has issued the following statement on behalf of NAPSLO in regard to the New York Attorney General's Investigation of insurance practices.

The fraud charges, alleged "bid rigging" and other illegal practices occurring in the insurance industry, brought to light by the recent investigation by New York Attorney General Eliot Spitzer, violate the public's trust in the insurance industry and are not condoned by NAPSLO or any of its members. Such activity is contrary to NAPSLO's own code of ethics and inconsistent with the NAPSLO credo that its members always act in "the utmost good faith."

Unfortunately, the dishonest actions of a few individuals will unfairly tarnish the reputation of the thousands of professionals, at all levels, who work in the insurance industry.

The wholesale surplus lines community of NAPSLO members is an important segment of the property and casualty insurance industry. These professionals work hard, each day, to provide retail insurance producers and their clients with important insurance products that are otherwise unavailable in the standard insurance marketplace. These professionals will continue to work to provide these important and often essential products, as they have in the past, in a highly professional and ethical manner.

The statement has been posted on the NAPSLO web site at
http://www.napslo.org/content/Legislation_Regulation/ny.htm

UPCOMING NAPSLO EVENTS
Advanced School - November 13-16, 2004 - Grapevine, Texas
Mid-Year Workshop - February 17-19, 2005 - Indian Wells, California
NAPSLO E&S School - June 25-28, 2005 - St. Louis, Missouri