NRRA — Not A Surplus Lines Panacea

Law360, New York (October 18, 2011, 1:12 PM EDT) -- On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) was signed into law. While Dodd-Frank was not aimed at insurance companies, it does have a number of provisions that directly impact the insurance and reinsurance industries. Dodd-Frank includes the Nonadmitted and Reinsurance Reform Act of 2010 (“NRRA”), which consists of two provisions: one related to surplus lines regulation and another related to credit for reinsurance.

Unlike many portions of Dodd-Frank, neither of these two insurance regulatory provisions were aimed at correcting...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.