Hawaii Withdraws from Nonadmitted Insurance Multi-State Agreement (NIMA)
Jun 13, 2012
The Florida Surplus Lines Service Office announced today, June 13, 2012, that the State of Hawaii submitted a notice of withdrawal from the Nonadmitted Insurance Multi-State Agreement (“NIMA”) on June 7.
Florida, Louisiana, Nevada, Puerto Rico, South Dakota, Utah, Wyoming are currently participating in NIMA.
On June 12, the NIMA states passed the following resolution:
Policies effective during the time in which a state is a NIMA Participating State (including the 60-day withdrawal period from NIMA) will be filed with the Clearinghouse through the end of the withdrawal period. However, Participating States which tender notice of withdrawal prior to the date of the Clearinghouse implementation will not participate in the Clearinghouse tax filing or tax allocation.
As a result, Hawaii will not be considered a NIMA Participating State for the purposes of filing and allocating taxes for new and renewal policies effective on or after July 1, 2012, where the Home State of the insured is a NIMA participating state. The Clearinghouse filing platform (Surplus Lines Information Portal) and the Multi-State Tax Calculator on the Clearinghouse Website, www.slclearinghouse.com, are being updated to reflect this change.
Should you have any questions or comments, please contact Colodny Fass.
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