Excess and Surplus Lines

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This updates our June 30, 2009 blog post.  The recently proposed Eleventh Amendment (the “Amendment”) to Regulation 41 (11 NYCRR 27), which governs the standards for excess lines placement, became effective on September 2, 2009.  The Amendment placed several additional categories of risks insured by excess lines carriers on the New York Export List. 

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Read More New York Expands Export List

The New Jersey Department of Banking and Insurance recently issued Bulletin 09-21, which advises that amendments to N.J.S.A. § 17:22-6.59 and 17:22-6.64 were enacted on June 29, 2009.  The amendments change the surplus lines premium tax rate from three percent to five percent. 

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Read More New Jersey Increases Surplus Lines Premium Tax Rates

Eric R. Dinallo, Superintendent of the New York Insurance Department, recently proposed an amendment to Regulation 41 (11 NYCRR 27) that governs the standards for excess lines placement (the “Proposed Regulation).  The Proposed Regulation seeks to include additional risks to be insured by excess lines carriers on the New York Export List. …

Read More New York Export List Proposed Regulation

Last week, Florida Governor Charlie Christ signed into law House Bill 853, previously discussed here, which exempts surplus lines insurers entirely from the provisions of Chapter 627, except where specifically stated otherwise.  Chapter 627 contains Florida’s rate and form filing statutes. …

Read More UPDATE: Surplus Lines Insurer Exemption Legislation Signed Into Law

Edwards Angell Palmer & Dodge is delighted to announce that it will again this year host a half-day seminar which will be repeated in Bermuda, New York and Boston. …
Read More Edwards Angell Palmer & Dodge Half-day CLE Insurance & Reinsurance Seminars – June 2009

Last week, both the Florida Senate and House passed legislation, Senate Bill 1894 and House Bill 853 respectively (the “Legislation”), to exempt surplus lines insurers entirely from the provisions of Chapter 627, except where specifically stated otherwise, which contains Florida’s rate and form filing statutes. …
Read More UPDATE: Surplus Lines Insurer Exemption Legislation Passed By Florida Senate and House

Florida Senate
On April 20, 2009, the Florida Senate Finance and Tax Committee (the “Senate Committee”) passed an amended Senate Bill 1894 (the “Senate Bill”) by a vote of 3-2. 

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Read More UPDATE: Surplus Lines Insurer Exemption Legislation Makes Progress In Florida Senate And House