Industry Issues | Surplus Lines Reform

DoddFrankSurplus_020711
PCI Advocacy Takes Strategic Approach Regarding Nonadmitted and Reinsurance Reform Act (NRRA)

The "Dodd-Frank Wall Street Reform and Consumer Protection Act" (DFA), incorporated significant changes for surplus lines regulation through the Nonadmitted and Reinsurance Reform Act (NRRA). Read summary.

The enactment of the long-awaited Nonadmitted and Reinsurance Reform Act will bring about the PCI-supported streamlining of the compliance aspects of the surplus lines insurance market and the resolution of conflicting state laws governing the placement, tax payment and allocation of premium for multistate surplus lines risks.

PCI is taking a strategic approach to this issue and will continue to work closely with state legislatures, insurance departments and the NAIC to achieve uniform standards consistent with both the spirit and the letter of the act.

For questions about surplus lines or the NRRA, please contact David Kodama, assistant vice president, research.

Latest News

Texas DOI Issues 2018 Terrorism Risk Insurance Data Call
The TDI issued Commissioner's Bulletin No. B-0008-18 to notify certain insurers to submit terrorism risk insurance data to the U.S. Treasury Dept. and the states using the New York DFS reporting portal by May 15 and September 30.

North Carolina DOI Issues Surplus Lines Insurers Data Call
The NCDOI has reportedly issued a premium data call request to certain surplus lines insurers.

Michigan Department of Insurance to Issue Surplus Lines Policy Data Request
The Michigan DIFS will issues another annual request for policy data to surplus lines insurance companies by the end of April.

Georgia to become the 15th DSLI State
Senate Bill 381 has been passed by the Georgia Legislature, to permit formation of a domestic surplus lines insurer.

Florida Surplus Lines Legislative Update
Florida enacts legislation to amend surplus lines insurer eligibility requirement; revises conditions for individual license as surplus lines agent.

State Implementation: Legislation & Regulation


NRRA State Implementation Legislation Map | September 1, 2017 

NRRA State Implementation Legislation Chart (NM, RI, NV) | October 1, 2017  
 
PCI State Enacted Law Bulletins - NRRA Implementation
(KS, LA) | July 20, 2015

NRRA State Implementation Bulletins - AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, KY, LA, ME, MD, MI, MN, MS, MO, MT | July 20, 2015

NRRA State Implementation Bulletins - NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, TN, TX, UT, VT, VA, WA, WV, WI, WY | July 20, 2015

Bulletins & News Releases  | View all 

Autonomous Vehicles Update: May 2018
Summary of legislative and regulatory activity on Autonomous Vehicles at the state and federal levels as well as a "news and notes" section containing links to related studies and articles.

Active Shooter Risk: A.M. Best Video
An expert panel discusses demand for coverage against the rising risk of active shooter and on-site violence in schools, workplaces and elsewhere.

Marijuana (Cannabis): News Article - California approves first Cannabis Business Owners Policy
Filed by the AAIS, the CannaBOP program is designed for cannabis dispensaries, storage facilities, processors, manufacturers, distributors and other cannabis-related businesses operating in the state.

Marijuana (Cannabis): NAIC CIPR webinar - Weeding through the Unique Insurance Needs of the Cannabis Industry
The recorded webinar explored cannabis industry activities, its risks and how its 1st and 3rd party coverage needs are unique from other industries.

Autonomous Vehicle Update: Spring 2018
Summary of recent legislative and regulatory activity on Autonomous Vehicles at the state and federal levels; "news and notes" section containing links to related studies and articles. 

Florida Surplus Lines Regulatory Compliance Update

 

Background & Resources | View all

PCI Cancellation and Nonrenewal Compliance Guide
A collection of recently updated charts on cancellation/nonrenewal laws in each state. Topics include cancellation/nonrenewal for personal and commercial lines, surplus lines requirements and exemptions, renewal notification and premium increase notice requirements.

PCI Releases 2018 State Tax Guide
The PCI guide includes a brief summary of significant state tax and fee-related developments in 2017 affecting property/casualty insurers, including surplus lines insurers

PCI: Surplus Lines Insurance Primer

A.M. Best Special Report - U.S. Surplus Lines Segment Review
PCI distributes this report to PCI members with special permission from A.M. Best and the Derek Hughes/NAPSLO Educational Foundation. A.M. Best retains the copyright to the report, and no part of this report may be distributed by any means, in whole or part, without prior written permission from A.M. Best.

Locke Lord LLP - 2018 Excess and Surplus Lines Law Manual
The Excess and Surplus Lines Law Manual is compiled and provided by: Locke Lord LLP (http://www.lockelord.com). For future updates to this publication, or any inquiries concerning this publication, contact John Dearie of Locke Lord LLP at jack.dearie@lockelord.com.