Which act was part of the Dodd-Frank Wall Street Reform and Consumer Protection Act?

The Nonadmitted and Reinsurance Reform Act (NRRA) of 2010 is a significant piece of legislation that was indeed included within the broader framework of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This act specifically addresses regulatory reforms for the surplus lines insurance market, aiming to streamline the insurance process across state lines.

The NRRA established a uniform regulatory framework that governs how nonadmitted insurance (commonly referred to as surplus lines insurance) is handled. One of the key provisions is that it allows surplus lines insurers to operate freely across state lines without the need for licensing in each state, provided they are licensed in at least one state. This enhances competition and can lower costs for consumers seeking specialized insurance products that are not available through the traditional insurance market.

The other options mentioned do not relate directly to the core provisions of the Dodd-Frank Act or focus specifically on the insurance industry in the same way as the NRRA. This makes the NRRA a critical piece of legislation that supports the goals of Dodd-Frank by promoting a more efficient and effective regulatory environment for surplus lines insurance.