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
/ Commercial Insurance Policies ,
Consumer Insurance Products ,
Filing Requirements ,
Insurance Brokers ,
Insurance Regulations ,
NAIC ,
New Legislation ,
NRRA ,
Regulatory Requirements ,
Reinsurance ,
Reporting Requirements ,
State and Local Government ,
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
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
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
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
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
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
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
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
On November 26th, Maine issued Bulletin 439 (the “Bulletin”) which provides, in granular detail, the criteria for placing insurance through the surplus lines market in the state. The Bulletin has received immediate and...more
All placements of insurance in the United States are generally subject to state premium taxation, but the responsible taxpayer depends on the type of insurance policy issued. Premium tax is usually payable by the insurer on...more
The Surplus lines market has traditionally been a method for insurance placement available to property and casualty products only, although states are increasingly opening up other lines of insurance to the nonadmitted...more
As reported in the Insurance Journal, the surplus lines industry is expanding at an approximately 13% faster rate than it was during this time in 2018. Stamping offices are indicating that premium has already hit $18...more
New York Senate Bill S769A (the “Bill”) has failed to move in the New York Assembly despite its passage by the Senate and therefore is unlikely to become law in 2019.
We had recently reported on the Bill’s potential impact...more
On June 10, 2019, Governor Phil Scott of Vermont signed Senate Bill 131 (the “Bill”) into law, permitting domestic surplus line insurers to offer and sell surplus lines insurance under a surplus lines certificate of authority...more
Add Nevada to the growing list of states that have adopted domestic surplus lines legislation. Senate Bill 86 (the “Bill”) was signed into law on June 1, 2019, with most provisions effective October 1, 2019. Of perhaps most...more
Earlier this month, Florida passed House Bill 301 to remove the cap on the amount of fees that may be charged by a surplus lines broker in connection with the procurement of surplus lines insurance for a prospective insured. ...more