Excess and Surplus Lines

Subscribe to Excess and Surplus Lines via RSS

The Surplus Lines Law Group held its spring meeting on Friday, April 5 in Biloxi, Mississippi. A number of presentations were given at the meeting, including updates on the trends around the nation with respect to the diligence search requirement, international tax and cybersecurity issues, as well as a presentation by this author as to the challenges surrounding placing group insurance coverage on a surplus lines basis (including unique hurdles applicable to risk purchasing groups).
Read More LL Surplus Lines Series (Entry 5): 2019 WSIA Spring Surplus Lines Law Group Meeting Recap and Summary of Trends

On March 12, 2019, Nebraska joined the small but growing number of states to adopt “domestic” ‎surplus lines legislation. Illinois was the first state to adopt domestic surplus lines legislation in ‎‎1998 but the trend only gained traction over the last few years.‎…
Read More LL Surplus Lines Series (Entry 4): Nebraska Becomes Latest State to Adopt Domestic Surplus Lines Legislation

Montana amended its insurance code to revise certain definitions and update certain provisions relating to surplus lines insurance effective March 7, 2019; the amendments can be found here.  Section 33-2-301(3)(t)(i) of the Montana insurance code amended its definition of “surplus lines insurance” to include inland marine insurance.
Read More LL Surplus Lines Series (Entry 3): Revisions to Montana’s Surplus Lines Laws

One of the hallmarks of surplus lines regulation throughout the United States is the “diligent search” requirement whereby the surplus lines broker (or retail producer) must attempt to place insurance coverage in the admitted market before exporting such coverage to an eligible, unauthorized surplus lines insurer.
Read More LL Surplus Lines Series (Entry 2): New York to Consider Elimination of Diligent Search Requirement for Certain Commercial Policies

Happy Presidents Day! Hopefully you are on vacation and reading this a day late. However, if not, we hope this installment of InsurTech analysis serves as a nice and informative break from the rigors of your work day. This week we move further into our overview of the insurance industry for InsurTechs, we move away from the things the general public is familiar with (Distribution and Claims), and we peer into what’s behind the curtain. And despite what the Wizard of Oz says, you should definitely pay attention to what’s behind the curtain.
Read More Underwriting and Finance/Reinsurance Focused InsurTechs – Understanding Licensure and Top 3 Regulatory Issues

Welcome back to your weekly dose of InsurTech insight. Hopefully in time you’ll come to think of us as a kind of General Assembly for InsurTechs, but instead of learning technological skills, you’ll learn practical information regarding not only regulatory and transactional insurance matters applicable to the InsurTech space, but also issues related to being an entrepreneur (which we will begin to focus on in the second month of this blog).
Read More Distribution and Claims-Focused InsurTechs: Understanding Licensure and Top 5 Regulatory Issues

The Texas Commissioner of Insurance has announced the repeal and replacement of provisions Chapter 15 Texas Administrative Code related to the regulation of surplus lines insurance.  The proposed new rules were originally published in June, 2018 and have been adopted with modification.  According to the December 10, 2018 adopting release,…
Read More Texas Revamps Surplus Lines Regulations

Texas Department of Insurance (TDI) has recently announced that it will now require online applications for most individual insurance related licenses.

Paper applications will no longer be accepted if an online license application is available.

Not all applications are web-based. Some license types are still required to be submitted using…
Read More TDI to Require Online Applications for Insurance Licenses