We are happy to provide the 2025 update to the Troutman Pepper Locke LLP Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and...more
4/24/2025
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Surplus Lines Insurance
The excess and surplus lines insurance market is a rapidly-growing avenue for the placement of insurance policies in the United States.
Many alien (non-U.S.) insurance carriers write surplus lines insurance coverage via...more
Earlier this month, United States Senator Sherrod Brown (D-OH), Chair of the Banking, Housing, and Urban Affairs Committee, urged the Federal Insurance Office (FIO) and the National Association of Insurance Commissioners...more
Florida lawmakers have recently introduced SB 1402 that could open up additional avenues for the placement of surplus lines business in the state.
On January 18, 2022, the Senate Banking and Insurance Committee passed SB...more
The global reinsurance landscape is an interconnected, intertwined marketplace that continues to grow and evolve. As insurance companies, agencies, program administrators and other industry actors continue to expand their...more
On May 21, 2021, the Illinois legislature passed SB 1753, which eliminates the surplus lines producers’ diligent search effort with respect to commercial risks when those risks are referred to the surplus lines producer by an...more
On May 12, 2021, Washington’s legislature passed into law Senate Bill 5315, which implements a registration requirement and a tax on captive insurers operating in Washington. Although Washington does not license captive...more
The Excess Line Association of New York (“ELANY”) delivered its April 2021 issue of the “E&S Empire Express,” a publication designed to provide an overview of ELANY’s recent activities, including employment changes,...more
On April 14, 2021, the Maine’s Bureau of Insurance issued Bulletin 457 to explain the general conditions and requirements for surplus lines placements, and to reaffirm to producers their obligations and responsibilities under...more
We are happy to provide the 2021 edition of our Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S. territories during...more
Given increasing reliance on “managing general agents”, managing general underwriters, program administrators or managers, brokers, agents, coverholders, and other entities delegated insurer underwriting authority...more
Increasingly, the world of insurance distribution has become highly specialized, utilizing technology and a multitude of parties to reach customers worldwide. The surplus lines industry is no exception. Surplus lines brokers...more
Automobile insurance looks very different today than it did a generation ago. The means by which people (and goods) travel via motor vehicles continue to expand and evolve, as do businesses and their automobile insurance...more
Multiple developments occurred in the last few weeks throughout the United States relaxing diligent search standards in the surplus lines marketplace.
On September 21, 2020, The U.S. Virgin Islands (“USVI”) promulgated...more
On July 10, 2020, Lloyd’s of London (“Lloyd’s”) issued Market Bulletin Ref: Y5299 (the “Bulletin”) announcing that it will seek to relinquish its admitted licenses in Kentucky, Illinois and the U.S. Virgin Islands. The...more
On June 16, 2020, the Excess Line Association of New York (“ELANY”) issued Bulletin No. 2020-35, promulgating ELANY’s new issue of “ELANY Elaborates” (the “EE”). This issue of EE (available here) focuses primarily on the...more
After weeks of deliberation, the Pandemic Risk Insurance Act, or “PRIA” has been introduced into the U.S. Congress. On May 26th, Rep. Carolyn Maloney, a member of the House Financial Services Committee, introduced H.R. 7011,...more
COVID-19 is impacting all facets of the insurance industry, and while the surplus lines market is somewhat inoculated from the impact of various state orders and emergency regulations, many states as well as the National...more
COVID-19 has majorly disrupted the global economy, and while many business sectors are subjected to temporary shutdowns or bare minimum operations, the insurance industry is racing forward while confronting unprecedented...more
The impact of COVID-19 on the international community cannot be overstated, and as our lives have seemingly come to a halt, so have the operations of many of the world’s businesses.
Originally published in the April 21,...more
We are pleased to present this 20th Anniversary edition of our Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S....more
The COVID-19 pandemic has rocked the United States and the sense of security of its citizenry in a way not seen since the tragedies of September 11th, 2001. The insurance industry, like the rest of us, is reacting in real...more
On March 6, 2020, the New York Department of Financial Services (“NYDFS”) issued Insurance Circular Letter No. 4 (the “Circular Letter”) addressing the ability for insurance companies to offer “Cancel for Any Reason” or...more
As we embark upon a new decade, the surplus lines insurance market has never been stronger. Growth in specialty products and demand for insurance protection in an increasingly dynamic, technological climate has continued to...more
One substantial area of ambiguity that permeates the surplus lines industry throughout the United States relates to the applicability of state law to surplus lines insurance carriers and brokers. This week, the Excess Line...more