Dues to increase following financial review

Following a review of current income and expenses for meetings and membership, the NAPSLO Board of Directors approved increasing dues starting with the 2007-08 fiscal year.

Under the new dues structure, main office dues will increase approximately 20% and branch office dues will increase 50% from $200 to $300.  

Wholesale Broker and non-risk bearing Associate membership dues will increase from $770 to $925. 

Dues for risk bearing members with annual premium $100 million and over will be $6,600, and dues for risk bearers with annual premium under $100 million will be $3,300.

 Underwriting Manager members will have the same dues as risk bearers, except for those firms with annual premium under $25 million dues will have dues of $1,325.

The last dues increase was in 1999 when dues were increased by 10% across the board.

"We have tried to limit increases over the years, however, additional legislative demands and moving the Association to new offices require additional financial resources," said President William Newton. "We hope this increase will carry the Association for a number of years."

The approved increases will be reflected in the dues statements sent to members next June and will be for the fiscal year August 1, 2007 – July 31, 2008.

The board also voted to make the registration fees for the Mid-Year Educational Workshop the same as for the Annual Convention.