Page "Insurance" Paragraph 172

On July 21, 2010, President Barack Obama signed into law the Nonadmitted and Reinsurance Reform Act of 2010 (" NRRA "), which took effect on July 21, 2011 and was part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The NRRA changed the regulatory paradigm for excess line insurance.

Generally, under the NRRA, only the insured's home state may regulate and tax the excess line transaction.