The National Insurance Producer Registry’s (NIPR) online licensing products, the Producer Database (PDB) and the Gateway, will serve the surplus lines industry in meeting new licensing and renewal regulatory requirements, furthering NIPR's mission to enhance efficiencies as a licensing resource.
Provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law earlier this year are an effort to create more uniform surplus lines licensing and regulatory processes, says NIPR. The law was created to prohibit states from collecting surplus lines licensing fees, unless surplus lines producers are participating in a national database for licensing and renewals.
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