NAPSLO Membership Criteria

Wholesale Agent/Broker Member Applicants Must:

  1. Be operating as a wholesale insurance agent/broker under its current ownership and management for at least two (2) years.
  2. Transact at least $3 million in annual premium volume.
  3. Derive at least 85 percent of the firm’s annual premium volume from retail agents and brokers.
  4. Derive at least 51 percent of the firm’s annual premium volume from non-affiliated retail brokers, agents, or wholesalers.
  5. At least 50 percent of the firm’s annual premium volume must be placed with non-affiliated insurance companies/risk bearers.
  6. Must be directly appointed by at least two (2) markets that are either are qualified or would qualify as a NAPSLO Company member or NAPSLO Underwriting Manager member.

Company Member Applicants Must:

  1. Be operating as an insurance company in the wholesale insurance business under its current ownership and management for at least two (2) years.
  2. Have a secure rating from A.M. Best or an equivalent rating from another recognized rating organization.
  3. Transact annual written premiums of more than $5 million.
  4. Have a minimum of $15 million in capital and surplus.
  5. Not exceed a net writings to surplus ratio of 3 to 1.
  6. Derive at least 51 percent of its annual written premium volume from unaffiliated wholesale agents/brokers.
  7. Demonstrate support of the wholesale insurance distribution system.

Underwriting Manager Member Applicants Must:

  1. Be operating as an underwriting manager in the wholesale insurance business under its current ownership and management for at least two (2) years.
  2. Have at least one (1) company, for which it has underwriting authority, which is a NAPSLO member or qualifies for NAPSLO membership as a company member.
  3. Derive at least 51 percent of its annual premium volume from unaffiliated wholesale brokers/agents.
  4. Demonstrate support of the wholesale insurance distribution system.
  5. Transact annual written premiums of more than $3 million.

Associate Member Applicants Must:

  1. Be operating in the wholesale insurance business under its current ownership and management for at least two (2) years.
  2. Represent a legitimate service to existing NAPSLO members and not be eligible for any other NAPSLO membership class.

If an Associate member applicant is a non-United States or non-Canadian domiciled insurance company or risk bearing entity,the following membership criteria will apply:

  1. Meet the annual written premium criteria and minimum capital and surplus criteria applied to Company member applicants, transacting annual written premium of more than $5 million and have a minimum of $15 million in capital and surplus.
  2. Has established a trust fund of not less than $5.4 million for the benefit of U.S. surplus lines policyholders.
  3. Be listed on the National Association of Insurance Commissioners International Insurance Department’s List (IID List).
  4. Demonstrate support in the United States of the wholesale insurance distribution system.