Surplus Lines Insurance

News & Analysis as of

Excess and Surplus Lines Laws in the United States: Including Direct Procurement Tax Laws and Industrial Insured Exemptions

Preface: States’ Implementation Of NRRA In 2014: 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

Vermont Supreme Court Rejects Traditional Environmental Harm Limitation for Pollution Exclusion

In its recent decision in Cincinnati Specialty Underwriters Ins. Co. v. Energy Wise Homes, Inc., 2015 VT 52 (Vt. Apr. 3, 2015), the Supreme Court of Vermont had occasion to consider whether a pollution exclusion is limited to...more

Montana Amends Expands Surplus Lines Statute

Effective February 25, 2015, Montana’s surplus lines law, Section 33-2-301 and 33-2-302, M.C.A., (the “Surplus Lines Insurance Law”) was expanded to authorize natural disaster multi-peril insurance to be sold as surplus lines...more

Alaska Issues Bulletin On Regulations Modifying Surplus Lines Requirements

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

Utah Issues Bulletin Regulating Surplus Lines Insurers And Producers

On May 15, 2014, the Utah Insurance Department and Surplus Line Association of Utah issued Bulletin 2014-5 to all surplus lines insurers and surplus lines producers/brokers informing them of the following changes by the Utah...more

Tennessee Withdraws From Slimpact

Tennessee’s governor signed into law a repeal of that state’s previously-passed enabling legislation, which allowed it to join the Surplus Lines Insurance Multi-State Compliance Compact (“SLIMPACT”). SLIMPACT was one of the...more

Surplus Lines Insurance in Texas: A Dark Horse

Texas is the second largest surplus lines insurance market in the United States, collecting over $4 billion in premiums annually. Surplus lines insurance is important as it can provide insurance to those whose needs are not...more

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