Commissioner Clark Appointed SLIMPACT Commission Interim Chair
Kentucky Insurance Commissioner Sharon Clark was recently voted interim Chair of the new SLIMPACT Commission. The election of Commissioner Clark represents another significant accomplishment for the new Surplus Lines Insurance Multi State Compliance Compact. With nine state having already joined the compact during the 2011 legislative session and work beginning on the adoptions of rules, bylaws and an allocation formula it has been a busy eight months for the fledgling commission.
CSG, through its National Center for Interstate Compacts, and in conjunction with the National Conference of Insurance Legislators (NCOIL) has been working extensively with the new member states as they begin the process of launching Commission activities. Commission business will officially begin once a tenth state joins the compact. Several states are still considering the legislation.