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Surplus Lines Insurance NRRA

Troutman Pepper Locke

2025 Excess and Surplus Lines Law Manual

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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

Troutman Pepper Locke

Excess and Surplus Lines Laws Manual

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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

Troutman Pepper Locke

LL Surplus Lines Series (Entry 29): Illinois Looks to be Latest State to Streamline Diligent Search Requirements, and to Provide...

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On February 26, 2021, a bill was introduced in the Illinois General Assembly that among other changes would eliminate the diligent effort requirement for commercial business sourced by a surplus lines producer through a...more

Troutman Pepper Locke

LL Surplus Lines Series (Entry 28): Surplus Lines Compliance Reminder Issued by ‎ELANY, Regarding Group Policies and Use of...

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On February 8, 2021, the Excess Line Association of New York (“ELANY”) issued Bulletin No. 2021-05 reminding surplus line insurers and brokers about some often overlooked compliance requirements. Among the topics was the...more

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LL Surplus Lines Series (Entry 26): Update: New Blanks Proposal for Home State Direct Premiums Written Again Tabled by NAIC...

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At the August 5, 2020, NAIC Summer National Meeting, the NAIC Surplus Lines Task Force again tabled its new Blanks proposal regarding home state direct premium written....more

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Developments In State Taxation Of Nonadmitted Insurance

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All placements of insurance in the United States are generally subject to state premium taxation, but the responsible taxpayer depends on the type of insurance policy issued. Premium tax is usually payable by the insurer on...more

Carlton Fields

Puerto Rico Addresses Impact of the NRRA

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The Nonadmitted and Reinsurance Reform Act of 2010 (“NRRA”) provisions are applicable in Puerto Rico. The Office of the Commissioner of Insurance issued a circular letter setting forth the standards for the placement of...more

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Excess and Surplus Lines Laws in the United States

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PREFACE THE NRRA TODAY - 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 purpose of the NRRA was to create...more

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New York Surplus Lines Tax Update: New York Clarifies Franchise Tax Position on Surplus Lines Insurers under Backdrop of NRRA

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Last month, New York issued two advisory opinions that could alter the tax obligations for surplus lines insurers. Advisory Opinion TSB-A-16(5)(C) (June 10, 2016, available here) and Advisory Opinion TSB-A-16(4)(C)...more

Eversheds Sutherland (US) LLP

New York Issues Two Advisory Opinions Regarding Surplus Lines Insurance

The New York State Department of Taxation and Finance (Department) issued two advisory opinions determining that unauthorized non-life insurance corporations (here, surplus lines insurance companies) are subject to insurance...more

Carlton Fields

Alaska’s Director Of Insurance Lists Eligible Surplus Lines Insurers

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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

Carlton Fields

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

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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

Troutman Pepper Locke

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

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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

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