NAPSLO Renews Contract with B&D Consulting
NAPSLO recently renewed its legislative lobbying agreement with B&D Consulting. That organization will continue to represent NAPSLO in Washington, D.C. for the 111th Congress which ends in December 2010.  Maria Berthoud, a partner with B&D Consulting, will continue to lead the B&D Consulting team representing NAPSLO.

Since 2005 B&D Consulting has helped raise the profile of NAPSLO and the surplus lines/wholesale insurance distribution system among members of Congress.

"With the assistance of the NAPSLO Legislative Committee and the extraordinary work of its chairs, the important role our market plays in providing insurance coverage to consumers with difficult to insure risks has been heard throughout the halls of our nation's Capitol and particularly in offices of the House and Senate leadership," said President John Wood.

"In the last Congress, NAPSLO was very close to passing reform legislation which would have simplified payment of premium taxes to the states and eased our compliance burdens on multi-state risk placements. We were stymied, at the last minute, in this effort by the “tsunami” of legislation arising from the credit crisis and economic meltdown our nation is facing."

While enacting surplus lines reform legislation will be NAPSLO’s highest legislative priority in the 111th Congress, our industry may face the biggest legislative challenge in its history.   The current national financial crisis has focused Congressional attention on restructuring the regulation of the financial services industry which will include the regulation of the property / casualty insurance business.  The state-based system of property / casualty insurance regulation could be considerably altered, if not eliminated, by Congressional action in favor of federal oversight of all insurance transactions.  As a result, a wave of Congressional action may be aimed at creating a new federal regulatory framework for financial services.

Building upon the recognition and presence we secured from our previous efforts in Washington, and using our relationship with B&D Consulting, NAPSLO is in a position to advance our message and views forcefully on all insurance matters that will come before the next Congress, Mr. Wood said.