Difference Between 1 State Compliance and Independent Procurement
In the example given for 1 state compliance, Alice is seeking insurance in Alaska and is domiciled in HI. Due to 1 State compliance, Alaska cannot require the HI surplus broker to have a license (regulating placement). In the context of Independent Procurement and the State board of Insurance v Todd Shipyards Corp, would the insurance transaction be regulated by Alaska? Can you explain the difference between placement and transaction? And where does the premium tax referred to in 1-state compliance come from?