In the eighth episode of our Surplus Lines 360 series, John Emmanuel and Zachary Lerner explore the definition of “home state” under the Nonadmitted and Reinsurance Reform Act (NRRA) — how it applies, the complexities of...more
In the seventh episode of our Surplus Lines 360 series, Zachary Lerner discusses what must be included in every surplus lines insurance policy: stamping language, service of suit clauses, and cancellation or non-renewal...more
In the sixth episode of our Surplus Lines 360 series, John Emmanuel and Zachary Lerner explore the broker licensing requirement, covering common misconceptions, recent enforcement actions, state-specific exceptions, and the...more
In the fifth episode of our Surplus Lines 360 series, John and Zachary explore the complexities of direct procurement, including key compliance considerations, home-state taxation, the attorney-in-fact model, and coverage...more
In the fourth episode of our Surplus Lines 360 series, John and Zachary discuss why using surplus lines insurance to satisfy state financial responsibility requirements can be problematic and varies by state, and why newer...more
It’s a tale as old as time: A U.S. insurance broker wants to place bespoke coverage for its U.S. client. Sometimes, it’s a layer within a commercial tower. Perhaps there are some participating admitted (licensed) U.S....more
12/30/2025
/ Bermuda ,
Compliance ,
Cross-Border Transactions ,
EU ,
Insurance Brokers ,
Insurance Industry ,
Insurance Regulations ,
International Trade ,
Jurisdiction ,
Regulatory Requirements ,
Surplus Lines Insurance ,
UK
In this episode, John and Zachary unpack one of the hottest regulatory topics in surplus lines: group insurance. Learn how affiliated and unaffiliated groups are treated under the NRRA, why “home state” determination drives...more
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
Anyone in the insurance brokerage world generally knows the three magic words that require an insurance producer license: the “sale,” “solicitation,” or “negotiation” of insurance. For too many, this is the end of the...more
On June 13, Florida Gov. Ron DeSantis signed House Bill 1549 into law. Among other things, the bill has removed the “diligent effort” requirement applicable to surplus lines agents....more
6/17/2025
/ Brokers ,
Commercial Insurance Policies ,
Consumer Insurance Products ,
Due Diligence ,
Florida ,
Insurance Industry ,
Insurance Reform ,
Insurance Regulations ,
New Legislation ,
Regulatory Reform ,
Risk Management ,
State and Local Government ,
Surplus Lines Insurance
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
The excess and surplus lines insurance market is a rapidly-growing avenue for the placement of insurance policies in the United States.
Many alien (non-U.S.) insurance carriers write surplus lines insurance coverage via...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
Florida lawmakers have recently introduced SB 1402 that could open up additional avenues for the placement of surplus lines business in the state.
On January 18, 2022, the Senate Banking and Insurance Committee passed SB...more
The global reinsurance landscape is an interconnected, intertwined marketplace that continues to grow and evolve. As insurance companies, agencies, program administrators and other industry actors continue to expand their...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
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...more
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,...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
Given increasing reliance on “managing general agents”, managing general underwriters, program administrators or managers, brokers, agents, coverholders, and other entities delegated insurer underwriting authority...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
Automobile insurance looks very different today than it did a generation ago. The means by which people (and goods) travel via motor vehicles continue to expand and evolve, as do businesses and their automobile insurance...more
Multiple developments occurred in the last few weeks throughout the United States relaxing diligent search standards in the surplus lines marketplace.
On September 21, 2020, The U.S. Virgin Islands (“USVI”) promulgated...more