Tennessee, the last state to require a Surplus Lines Broker License, passed a licensing bill last week that no longer requires retail agents to have a surplus lines broker license.
“Tennessee Governor Bill Haslam signed SB 2510 allowing retail agents to perform a diligent search of the admitted market without a surplus lines broker license. Tennessee was the last state in the nation to require retail agents participating in the surplus lines transaction to carry a surplus lines broker license. The legislation, which was proposed by WSIA, the Council of Insurance Agents and Brokers and other industry partners, took effect upon passage on March 16.”
