Great Strides Made in Last Year
The Surplus lines Association has made great strides during the past year and we are pleased to report to our membership that our association is now more pro-active and effective in all areas in which it operates. We have been working closely with the Department of Insurance (DOI), especially since codification (AB865). Our remaining task is to implement SB959 which is now nearing completion. Thanks so much to our legislative committee for their hard work. The legislative group is headed up so ably by one of our most dedicated Surplus Line brokers, Jerry Sullivan.
Shortly after the new year Howard Green resigned and as the result of this the executive committee voted unanimously to elect Mr. Steven, Chan of Dimock & Associates to replace Howard. We will all miss Howard. During his tenure with the SLA he added to the overall efficiency of our association. We also welcome Steve to the committee and are certain he too will make significant contributions to the SLA.
I am also pleased to report that the association has been working with law enforcement agencies throughout California in the seemingly never ending task of eliminating fraud and rooting out those individuals who should not hold a license to transact insurance in our state.
A prime example of this is the dramatic reduction in exportation of private passenger automobile liability coverage. Hopefully we have dosed the loopholes -on the unsavory characters who attempt to take advantage of others. (continued next column)
As we prepare our newsletter for distribution, the SLA is undergoing a physical audit of its operations. This is at the request of the DOI and in conformance with A13865. Ernst & Young will be conducting the audit of our operations!
One other item of interest is that the executive committee formed an ad hoc group to rewrite our constitution so that it will tract with A13865. The constitution has long needed updating and a draft for review should be ready for distribution to the membership by October. Final approval will be at our next annual meeting.
In conclusion, as we go forward we are seeking to achieve a close working relationship with the DOI which should result in once again making our state the leader in the nation in relations to the insurance industry. We certainly have the staff to accomplish this endeavor and are now more than ever willing and able to take on additional duties as directed by the insurance commissioner.