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Policy Terms Insurance Industry Surplus Lines Insurance

Saul Ewing LLP

Pennsylvania Enacts New Insurance Legislation That Significantly Expands the Permissible Fees Charged by Surplus Lines Licensees...

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Pennsylvania recently enacted two new insurance laws that significantly expand the permissible kinds of value-added products and services that may be provided by insurance licensees in general and the fees that may be charged...more

Locke Lord LLP

A Deep Dive Into the Diligent Effort (Search) Requirement

Locke Lord LLP on

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

Locke Lord LLP

LL Surplus Lines Series (Entry 33): Florida Legislators Consider Surplus Lines Bills

Locke Lord LLP on

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

Locke Lord LLP

LL Surplus Lines Series (Entry 32): Illinois Legislature Eliminates the Diligent Search Effort for Certain Commercial Transactions...

Locke Lord LLP on

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

Butler Weihmuller Katz Craig LLP

Surplus Insurers, Too, Can Rely on the Application to Interpret Policy

Section 627.419 of the Florida Statutes provides that “[e]very insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy and as amplified, extended, or modified by...more

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