NIMA Elects Governing Committee
The state representatives of the Non-Admitted Insurance Multi-State Agreement (NIMA) have elected the group’s first Governing Committee. The Chairman of NIMA will be Insurance Commissioner Mike Chaney from Mississippi, the Vice-Chairman of NIMA will be Director of Insurance Merle Scheiber of South Dakota, and the Secretary of NIMA will be Insurance Commissioner Kevin McCarty of Florida.
“I wish to thank my colleagues for entrusting me with this opportunity to serve as Chair of the NIMA Governing Committee,” remarked Insurance Commissioner Chaney. “Much has been accomplished since the Agreement became effective on June 15th, but there is still a lot of work to be done. I look forward to working with all NIMA Participating States as we move ahead to implement uniform requirements, establish a Clearinghouse and protect tax revenue on behalf of the citizens of our respective states.”
The NIMA is one of two competing mechanisms for implementing surplus lines tax provisions of the Non-Admitted and Reinsurance Reform Act (NRRA). The Florida Office of Insurance Regulation was an early advocate of NIMA and has been instrumental in developing the NIMA platform.