Surplus Lines Insurance

News & Analysis as of

South Carolina Legislative Update

Infrastructure, workforce development, Sharia Law, and automobile dealer closing fees seemed to dominate last week’s activities of the South Carolina General Assembly. Below are a few highlights...more

Missouri Finance Department Adopts New Rule Regarding Certificates Of Authority For Surplus Lines Insurers

On December 1, the Missouri Department of Insurance, Financial Institutions and Professional Registration adopted a new rule pertaining to certificates of authority for domestic surplus lines insurers. The rule was proposed...more

Alaska’s Director Of Insurance Lists Eligible Surplus Lines Insurers

On July 13, 2015, the director of Alaska’s Division of Insurance published a list of surplus lines insurers that are eligible to write non-admitted business within the state. The Non-admitted and Reinsurance Reform Act...more

Louisiana Legislation Repeals Authority To Enter NIMA

The Louisiana House of Representatives’ Bill 259, effective July 1, 2015 as Act 386, repeals the authority of the state’s insurance commissioner to enter the Non-Admitted Insurance Multi-State Agreement (“NIMA”) or other...more

Louisiana And North Dakota Adopt Amendments Related To Nonadmitted And Reinsurance Reform Act Of 2010

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

Wisconsin Decides to Not Become Full NIMA Member

Wisconsin, which was an Associate Member of the Nonadmitted Insurance Multi-State Agreement, Inc. (“NIMA”) until June 30, 2015, announced this week that it will not become a full tax-sharing member of NIMA. As such, effective...more

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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