The Governmental Affairs Committee is charged with ensuring AAMGA members are kept informed on the governmental and regulatory issues, developments and other matters having an impact on their operations.
Committee members regularly meet with state and federal elected and appointed officials across the country. The AAMGA’s influence in Congress and with state regulators has enabled members of the Association to advance needed insurance reforms and to then lobby their own elected representatives and regulators on matters of importance to the wholesale insurance industry. It has also resulted in the AAMGA being afforded the opportunity of testifying and providing specific data and information on our industry before US Senate and House of Representatives Committees in Washington, DC. The AAMGA is a reliable and trusted source.
The Governmental Affairs Committee also liaises regularly with the Financial Conduct Authority in the United Kingdom, in order to discuss and advise how regulatory initiatives there will impact the transaction of business in North America.
Members attend meetings of the National Association of Insurance Commissioners (NAIC), the National Association of Professional and Surplus Lines Offices (NAPSLO), the National Council of Insurance Legislators (NCOIL), the Surplus Lines Law Group, Big I Legislative Insurance Conference, and other national and state insurance industry conferences.
Lloyd’s Guidance and Bulletins
Office of Financial Assets Control (OFAC) Compliance Webinar
On December 12, 2013 Linda Hohn, Vice President & Associate General Counsel of Global Indemnity Group and member of the AAMGA’s Governmental Affairs Committee, conducted an informative webinar to provide wholesale insurance professionals with an overview of OFAC and its compliance requirements.
2013 State Stamping & Surplus Lines Offices Premium/Transaction Data Report
We are indebted to Phil Ballinger and his staff at the Surplus Lines Office of Texas in compiling the following data from the state stamping offices. As noted on the this chart, reported premium and transaction data indicates total surplus lines premium was nearly $22.5 billion compared to $19.4 billion in 2012 (an increase of 15.5%), with transactions totaling more than 3.1 million. California, Texas, and Florida each processed more than $4.5 billion.
2013 Federal Insurance Office Report on Modernization of Insurance Regulation
2013 Cancellation Nonrenewal Surplus Lines Exemptions
This 2013 compliance chart by our colleagues at PCI provides a quick reference of the Cancellation/Nonrenewal Provisions in Surplus Lines. The content shows whether surplus lines insurers writing commercial or personal lines policies in a particular jurisdiction are exempt from the cancellation/nonrenewal requirements in the Insurance Code.
2013 State Insurance Department Directory
The 2013 Directory of state insurance departments provides updated contact information for all commissioners as well as the individual units operating within each department. The directory is organized by our colleagues at PCI.
AAMGA Briefing Memo on Reauthorization of the Terrorism Risk Insurance Act - November 2013
PCI Surplus Lines Committee Meeting Materials - November 2013
AM Best Special Report on the Surplus Lines Market - 2012
AAMGA Written Statement Before US Senate in Support of NARAB II
South Carolina Supreme Court Faulty Workmanship Ruling: November 21, 2012
On November 21, 2012, the Supreme Court of South Carolina ruled that the retroactivity portion of a law passed by the state's legislature in 2011 that included property damage resulting from "faulty workmanship" as an insured peril under a CGL policy was, in fact, unconstitutional. The court held: “[w]hile we hold that it is within the legislature's power to statutorily define the meaning of "occurrence," it violates the Contract Clause to apply this new definition retroactively as it substantially impairs pre-existing contracts by materially changing their terms.” The full version of the court's ruling can be viewed by clicking here.
Suplus Lines Law Group Meeting
September 28, 2012
Non-Admitted Insurance Reform Act Implementation
U.S. Stamping Offices
The AAMGA is privileged to have each of the state stamping and surplus line service offices as active and contributing members of the Association.
|State||Stamping Office||Contact Information|
|AZ||The Surplus Lines Association of Arizona||www.sla-az.org|
|CA||The Surplus Lines Association of California||www.slacal.org|
|CO||Surplus Lines Association of Colorado, Inc.||www.colosla.org|
|FL||Florida Surplus Lines Service Office||www.fslso.com|
|ID||Surplus Lines Association of Idaho, Inc.||www.idahosurplusline.org|
|IL||Surplus Lines Association of Illinois||www.slai.org|
|MS||Mississippi Surplus Lines Association||www.msla.org|
|MT||Montana Surplus Lines Association||www.mslaa.org|
|NV||Nevada Surplus Lines Association||www.nsla.org|
|NY||Excess Line Association of New York||www.elany.org|
|OR||Surplus Line Association of Oregon||www.slaor.org|
|PA||Pennsylvania Surplus Lines Association||www.pasla.org|
|TX||Surplus Lines Stamping Office of Texas||www.slsot.org|
|UT||Surplus Lines Association of Utah||www.slaut.org|
|WA||Surplus Line Association of Washington||www.surpluslines.org|
Click here to access the Edwards Angell Palmer & Dodge Excess and Surplus Lines Law Manual.
Click here to download a copy of the Regulatory and Legislative Positions of the AAMGA brochure.
Click here to participate on the AAMGA’s Governmental Affairs Committee
State Insurance Departments
Scroll over and click on the individual state names below for the websites of the state insurance departments:
Members of the 2013-2014 AAMGA Governmental Affairs Committee are
Jason W. Murrey
Joshua Korver, Esq.
Jim Kranzberg, CIW
C. Kennon Hendrix
James A. Prather
James A. Roe, CPCU,ASLI