Texas’ legislature is considering bills that would amend Texas’ insurance code to clarify that eligible surplus lines insurers may offer windstorm and hail insurance in areas already served by the Texas Windstorm Insurance Association (“TWIA”).
Read MoreThe 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 MoreOn 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 MoreMontana 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 MoreOne 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 MoreWe are happy to provide the 2019 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 the past year.
Read MoreLocke Lord is pleased to announce the launch of its newest blog series, the LL Surplus Lines Series!
Read MoreThe 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.
Read MoreZachary Lerner is moderating a discussion on insurtech and its impact on the surplus lines industry at the 2018 Fall Surplus Lines Law Group Meeting, hosted by the Excess Line Association of New York (ELANY) on October 12, 2018 in New York.
Read MoreTexas Department of Insurance (TDI) has recently announced that it will now require online applications for most individual insurance related licenses.
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