Zachary Lerner, Partner in Locke Lord’s New York office, authored an article in the New York Law Journal discussing the rise of the Domestic Surplus Lines Insurer (DSLI), key benefits of pursuing the formation or purchase of a DSLI and the associated challenges.
Read More The Rise of the Domestic Surplus Lines Insurer
Excess and Surplus Lines
Excess and Surplus Lines Law Manual 2022 Update
We are happy to provide the 2022 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 More Excess and Surplus Lines Law Manual 2022 Update
LL Surplus Lines Series (Entry 33): Florida Legislators Consider Surplus Lines Bills
By Zachary Lerner & Troutman Pepper Locke on
Florida lawmakers have recently introduced SB 1402 that could open up additional avenues for the placement of surplus lines business in the state. …
Read More LL Surplus Lines Series (Entry 33): Florida Legislators Consider Surplus Lines Bills
LL Surplus Lines Series (Entry 32): Illinois Legislature Eliminates the Diligent Search Effort for Certain Commercial Transactions and Provides Clarity With Respect to Group Policies
Posted in Excess and Surplus Lines, United States
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 unaffiliated Illinois-licensed insurance producer. The legislation is currently awaiting the Governor’s signature.
Read More LL Surplus Lines Series (Entry 32): Illinois Legislature Eliminates the Diligent Search Effort for Certain Commercial Transactions and Provides Clarity With Respect to Group Policies
Complimentary Webinar: Methods of Accessing the Non-Admitted Insurance Market in the U.S. for InsurTech Distributors
By Stephanie Kelly & Troutman Pepper Locke on
Posted in Excess and Surplus Lines, InsurTech
Locke Lord and InsurTech NY will present a one-hour virtual presentation on June 9 at noon ET addressing current issues facing insurtechs operating in the surplus lines space, including insurers, brokers, distribution partners and other vendors – and their various products – when seeking to access the non-admitted insurance market in today’s increasingly high-tech and digital world.
Read More Complimentary Webinar: Methods of Accessing the Non-Admitted Insurance Market in the U.S. for InsurTech Distributors
Washington State Implements Registration and Tax Requirement on Eligible Captive Insurers Operating in the State
By Zachary Lerner & Troutman Pepper Locke on
Posted in Excess and Surplus Lines
On May 12, 2021, Washington’s legislature passed into law Senate Bill 5315, which implements a registration requirement and a tax on captive insurers operating in Washington. Although Washington does not license captive insurers, this new legislation now recognizes the concept of “eligible” captive insurers operating in the state but located in other jurisdictions.
Read More Washington State Implements Registration and Tax Requirement on Eligible Captive Insurers Operating in the State
Locke Lord and InsurTech NY Present CLE Surplus Lines Webinar for InsurTech Distributors
By Stephanie Kelly & Troutman Pepper Locke on
Locke Lord and InsurTech NY will present a one-hour virtual presentation on June 9 at noon ET addressing current issues facing insurtechs operating in the surplus lines space, including insurers, brokers, distribution partners and other vendors – and their various products – when seeking to access the non-admitted insurance market in today’s increasingly high-tech and digital world.
Read More Locke Lord and InsurTech NY Present CLE Surplus Lines Webinar for InsurTech Distributors
LL Surplus Lines Series (Entry 31): ELANY Issues Commentary on NY Cybersecurity Regulation Developments, E&S Diligent Search Modernization, Medical Malpractice E&S Reform, Punitive Damage Advocacy, Group Policy Prohibitions, Binding Authority Filing Requirements and other Topics of Note
By Zachary Lerner & Troutman Pepper Locke on
Posted in Excess and Surplus Lines, United States
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, regulatory efforts, upcoming events, and general guidance.
Read More LL Surplus Lines Series (Entry 31): ELANY Issues Commentary on NY Cybersecurity Regulation Developments, E&S Diligent Search Modernization, Medical Malpractice E&S Reform, Punitive Damage Advocacy, Group Policy Prohibitions, Binding Authority Filing Requirements and other Topics of Note
Excess and Surplus Lines Law Manual 2021 Update
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 the past year. The website provides you with the ability to click on the states and territories of interest to view the updates.
Read More Excess and Surplus Lines Law Manual 2021 Update
New Jersey Passes Legislation Requiring Insurers to Apprise Insureds of Particular Aspects of Their Business Interruption Coverage
Both the New Jersey Assembly and Senate recently passed identical legislation that would require insurers offering commercial coverage for loss or damage to property, including business interruption, to provide insureds with a general summary of common insurance clauses in policies for loss of use and occupancy of a commercial property, along with a disclosure relating to pandemic and virus losses.…
Read More New Jersey Passes Legislation Requiring Insurers to Apprise Insureds of Particular Aspects of Their Business Interruption Coverage