Join Troutman Pepper Locke Partners John Emmanuel and Zachary Lerner as they break down the critical role of surplus lines brokers in insurance transactions. Learn the distinctions between admitted and surplus lines markets,...more
Join Troutman Pepper Locke Partners John Emmanuel and Zachary Lerner as they kick off Surplus Lines 360, a series that demystifies the evolving landscape of surplus lines insurance. In this video, discover what surplus lines...more
On October 10, 2025, the Connecticut Department of Insurance (the Department) issued Bulletin SL-6 (the Bulletin) to restate the requirements generally applicable to surplus lines placements, and to advise that the diligent...more
In a press release dated September 19, 2025, Commissioner Ricardo Lara announced proposed changes to California’s rate review and intervenor system. The state’s intervenor system, initially established by Proposition 103 in...more
10/16/2025
/ Administrative Law Judge (ALJ) ,
California ,
Comment Period ,
Department of Insurance ,
Insurance Litigation ,
Insurance Regulations ,
Intervenors ,
Proposed Rules ,
Regulatory Reform ,
Reporting Requirements ,
Rulemaking Process
On September 26, 2025, Governor Kathy Hochul of New York signed into law AB 5600 (the Bill), which amends N.Y. Ins. Law §7425 to address the treatment of voidable transfers involving Federal Home Loan Banks (FHLBs), as well...more
10/7/2025
/ Banks ,
Delinquency Status ,
Federal Loans ,
Financial Institutions ,
Fraudulent Transfers ,
Insurance Regulations ,
NAIC ,
New Legislation ,
New York ,
Real Estate Transactions ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements
New York Governor Kathy Hochul announced today that Adrienne Harris will step down as superintendent of the New York State Department of Financial Services (NYDFS), effective October 18. Following Harris’s departure, Hochul...more
In a press release published August 25, New York Senators James Skoufis, Jamaal Bailey, and Brian Kavanagh announced a joint investigation into residential property insurance. The purpose of the investigation is “to identify...more
9/2/2025
/ Climate Change ,
Consumer Insurance Products ,
Insurance Claims ,
Insurance Industry ,
Insurance Regulations ,
New York ,
Policy Terms ,
Property Damage ,
Property Insurance ,
Regulatory Oversight ,
Severe Weather ,
State and Local Government ,
State Legislatures
On August 1, 2025, Governor JB Pritzker approved Senate Bill No. 1289, amending the definition of “home state” as it relates to more than one unaffiliated insured from a group and named as insureds on a single surplus lines...more
Effective October 1, 2025, Public Act No. 25-130 amends Connecticut’s captive insurance laws. Important amendments under the act include...more
On June 10, 2025, Governor Lamont signed Senate Bill No. 9 into law. In light of the passage of the bill, on July 8, 2025, the Connecticut Insurance Department (Department) issued Bulletin PC-93-25, addressed to “all...more
7/15/2025
/ Connecticut ,
Consumer Insurance Products ,
Disclosure Requirements ,
Flood Insurance ,
Homeowner's Insurance ,
Homeowners ,
Insurance Reform ,
Insurance Regulations ,
New Legislation ,
Policy Exclusions ,
Property Casualty Policies ,
Property Insurance ,
Regulatory Requirements ,
Rental Insurance
On July 2, 2025, the Connecticut Insurance Department (Department) issued Bulletin PC-92-25 (Bulletin), addressed to “all companies licensed to write property and casualty insurance.” The Bulletin rescinds and replaces...more
7/15/2025
/ Commercial Insurance Policies ,
Connecticut ,
Consumer Insurance Products ,
Filing Requirements ,
Insurance Regulations ,
New Regulations ,
Policy Terms ,
Property Casualty Policies ,
Property Insurance ,
Regulatory Requirements ,
State and Local Government
We are happy to provide the 2025 update to the Troutman Pepper Locke LLP 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...more
4/24/2025
/ Commercial Insurance Policies ,
Consumer Insurance Products ,
Filing Requirements ,
Insurance Brokers ,
Insurance Regulations ,
NAIC ,
New Legislation ,
NRRA ,
Regulatory Requirements ,
Reinsurance ,
Reporting Requirements ,
State and Local Government ,
Surplus Lines Insurance
On November 13, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) amended several insurance-related Frequently Asked Questions (“FAQs”) (61, 62, 63, 64, 65, 68, 69, 102, 103, and 104) as...more
On April 23, 2024, the U.S. Department of Labor (the “DoL”) released its final rule (“Fiduciary Rule”) titled Retirement Security Rule: Definition of an Investment Advice Fiduciary (an “Investment Advice Fiduciary”), which...more
On October 19, 2022, the National Association of Insurance Commissioners (NAIC) Surplus Lines Working Group exposed proposed changes to the International Insurers Department (IID) Plan of Operation applicable to insurers...more
On October, 17, 2022, the National Association of Insurance Commissioners (NAIC) Surplus Lines Task Force held an interim meeting to discuss, among other agenda items, the draft changes to the Nonadmitted Insurance Model Act...more
Earlier this month, United States Senator Sherrod Brown (D-OH), Chair of the Banking, Housing, and Urban Affairs Committee, urged the Federal Insurance Office (FIO) and the National Association of Insurance Commissioners...more
As we previously reported a year ago, the National Association of Insurance Commissioners (NAIC) adopted amendments to the Credit for Reinsurance Model Law (#785) and Credit for Reinsurance Model Regulation (#786) to...more
Governor Kathy Hochul signed a bill that clarified the provisions recently allowing for commercial risk policies of less than one year under New York Insurance Law Section 3426. The original amendments, enacted in December...more
Governor Kathy Hochul announced that Adrienne Harris has been nominated as the new Superintendent of The New York State Department of Financial Services. Ms. Harris’ background includes being a former economic advisor to...more
On July 28, 2021, Arkansas will implement its recently enacted Insurance Business Transfer Act (“IBTA”). The purpose of the law is to provide insurance carriers a process for the transfer of blocks of business from any...more
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...more
After years of international negotiations and NAIC deliberations, state legislatures and regulators have started the process to eliminate reinsurance collateral requirements for qualifying non-United States (U.S.) reinsurers...more
On April 14, 2021, the Maine’s Bureau of Insurance issued Bulletin 457 to explain the general conditions and requirements for surplus lines placements, and to reaffirm to producers their obligations and responsibilities under...more
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