The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
NOWOTNY KNOWS SQUAT! Part 2 Using PPLI and PPVA Annuities to Raise Assets Under Management and Sell More Life Insurance
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...more
On February 26, 2021, a bill was introduced in the Illinois General Assembly that among other changes would eliminate the diligent effort requirement for commercial business sourced by a surplus lines producer through a...more
Increasingly, the world of insurance distribution has become highly specialized, utilizing technology and a multitude of parties to reach customers worldwide. The surplus lines industry is no exception. Surplus lines brokers...more
On February 8, 2021, the Excess Line Association of New York (“ELANY”) issued Bulletin No. 2021-05 reminding surplus line insurers and brokers about some often overlooked compliance requirements. Among the topics was the...more
On November 18, 2020, the Surplus Lines Task Force held a virtual meeting in lieu of its meeting at the 2020 NAIC Fall National Meeting. The Task Force discussed the proposed modernization of the NAIC Nonadmitted Insurance...more
At the August 5, 2020, NAIC Summer National Meeting, the NAIC Surplus Lines Task Force again tabled its new Blanks proposal regarding home state direct premium written....more
On July 10, 2020, Lloyd’s of London (“Lloyd’s”) issued Market Bulletin Ref: Y5299 (the “Bulletin”) announcing that it will seek to relinquish its admitted licenses in Kentucky, Illinois and the U.S. Virgin Islands. The...more
As we embark upon a new decade, the surplus lines insurance market has never been stronger. Growth in specialty products and demand for insurance protection in an increasingly dynamic, technological climate has continued to...more
The Nonadmitted and Reinsurance Reform Act of 2010 (“NRRA”) provisions are applicable in Puerto Rico. The Office of the Commissioner of Insurance issued a circular letter setting forth the standards for the placement of...more
PREFACE THE NRRA TODAY - The Nonadmitted and Reinsurance Reform Act (“NRRA”) came into effect on July 21, 2011 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The purpose of the NRRA was to create...more
The Texas Department of Insurance on Wednesday, January 3, 2018 announced that it has issued the very first domestic surplus lines insurer (“DSLI”) certificate. The recipient company, Starr Surplus Lines Insurance Company, is...more
For decades, group insurance coverage has been an attractive vehicle for the placement of certain property and casualty insurance products. On the carrier side, loss experience may be more favorable when aggregating similar...more
Preface States’ Implementation Of NRRA IN 2016 - The Nonadmitted and Reinsurance Reform Act (“NRRA”) came into effect on July 21, 2011 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The...more
The Connecticut Insurance Department has issued two bulletins addressing 2016 and 2017 financial reporting requirements for foreign eligible surplus lines insurers and accredited reinsurers. Regarding surplus lines insurers,...more
As we have previously reported, the United States National Flood Insurance Program (“NFIP”) is set to expire in September 2017, at which point surplus lines insurers may find themselves with an opportunity to fill a...more
The National Association of Insurance Commissioners (NAIC) Spring 2016 National Meeting, which was held from April 3 – 6 in New Orleans, offered insight into numerous issues being considered by state commissioners nationwide....more
Louisiana and North Dakota amended their surplus lines statutes in line with the Nonadmitted and Reinsurance Reform Act of 2010 (the “NRRA”), which was included in the Dodd-Frank Wall Street Reform and Consumer Protection Act...more
Alaska’s Division of Insurance has released a bulletin notifying licensees, surplus lines insurance companies in the State of Alaska, and other interested parties that it has adopted regulations modifying surplus lines...more