I have a multi-state risk. How do I
First, determine the home
state of the insured. "Home State" is defined in the
Illinois surplus line law and the
federal Nonadmitted and Reinsurance
Reform Act (NRRA). You can find a helpful flowchart
have determined the home state of the insured, the surplus
line policy is filed with (and taxes paid to) that state
regardless of whether it is a single-state or multi-state
states (Florida, Louisiana, Utah, Wyoming, South Dakota &
Puerto Rico) are members of an interstate compact called
NIMA. When a policy covers risks in multiple states
and the insured's home state is a NIMA participant, it is
filed with the NIMA clearinghouse. NIMA filings must
include allocation data as prescribed by the clearinghouse.
This allocation data is not required by most other states.
policies covering risks in multiple states, remember to
follow the rules prescribed by the home state of the insured
as that term is defined in the law.
The materials and information contained herein are only synopses of laws,
regulations and other information and do not constitute legal advice. It is
recommended that you consult your legal advisers regarding application of
state and federal laws and regulations to any particular situation. The
Surplus Line Association does not undertake and hereby disclaims any
obligation to advise you of any change to laws and
regulations or the procedures of the Surplus Line Association.