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...
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