Industry Issues | Surplus Lines Reform

Bulletins & News Releases Updates

NAIC Surplus Lines (C) Task Force at the 2019 summer national meeting – RECAP
The task force met to discuss 2020 charges; IID Plan of Operation; flood insurance coverage reporting; Schedule T proposal; Producer Licensing (D) Task Force referral; and, surplus lines industry financials. 

AM Best Webinar: State of the Surplus Lines Market
A panel of industry leaders in the surplus lines sector of the U.S. insurance market will review the market and highlights of a new report on that sector.

Autonomous Vehicles: August 2019 Update
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 studies and articles related to self-driving technology.

Surplus Lines Insurance Conference: 2019, September 17-18 
The APCIA will host its inaugural Surplus Lines Insurance Conference for APCIA members on September 17-18 at the APCIA Chicago headquarters building.

ELANY Bulletin Addresses Restrictions on New York Group Insurance Policies
Bulletin No. 2019-19 details New York’s substantial restrictions on group property and casualty insurance policies. See also related legal article, HERE.

Twenty-First State Enacts Domestic Surplus Lines Insurer Legislation
In 2019, IA, NE, NV, OH, and VT enacted legislation that establishes a DSLI designation for a domestic insurer with the authority to write surplus lines insurance in the state.

Autonomous Vehicles: March 2019 Update
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 studies and articles related to self-driving technology.

Marijuana/Cannabis: NAIC Cannabis Insurance Working Group Releases Update to White Paper Draft
White paper to identify insurance issues, gaps and opportunities facing the cannabis industry and to identify best regulatory practices to address these issues.

NAIC: Surplus Lines Working Group Releases Proposal for Comment; Considers Home State Premium Reporting
Working Group considers revisions to IID Plan of Operation; New Flood Insurance Coverage Supplement; and, state survey on home state premium reporting.

Cyber: AM BestTV Panel - A Key to Underwriting Cyber Risk Is Getting the Right Data
Industry experts examine the state of cyber risk modeling, including how insurers are learning to deal with 'silent cyber' and other developments.

Marijuana/Cannabis: A.M. Best Reviews State of Legalized Marijuana and Insurance
Only 25 carriers - mostly non-admitted - currently offer insurance to cannabis-related businesses, according to AM Best. 

A.M. Best: Maintains Stable Outlook on Surplus Lines Segment
Market conditions expected to remain supportive of appropriate levels of risk-adjusted capitalization and strong operating performance. 

Cyber: Cyber Insurance Purchasing Increases as Risk Awareness Grows, March 2019
Marsh report explores purchasing, limits and pricing trends over the past three to five years by industry.

NAIC Surplus Lines Task Force Meeting, April 6 – Summary
The Task Force met at the NAIC 2019 spring national meeting in Orlando to discuss matters related to A&H nonadmitted insurance coverage, flood insurance and surplus lines market activity.

Marijuana/Cannabis: Industry News - Legalized marijuana: Opportunity or time bomb? (Part 1)
See also, Examining the risks of legalized marijuana (Part 2)Finding the opportunities in legalized marijuana (Part 3)

Autonomous Vehicles: March 2019 Update
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 studies and articles related to self-driving technology.

A.M. Best Report Explores Cannabis-Related Opportunities, Risks for Insurers
“Cannabis: New Opportunities for Insurers, But With Burgeoning Risks” reviews the insurance implications of expanded state availability of medical and legalized recreational marijuana.

Broker Fees: Industry News - Things to Consider When Charging Broker Fees
Fees are subject to two overriding rules: (1) they must be fully disclosed to the insurance buyer and (2) they must be reasonable. 

Marijuana/Cannabis: Industry News - Legal cannabis regulation picks up steam
The number of U.S. states with legalized recreational-use cannabis could increase to 14 or 15 by the end of 2019, up from 10, plus the District of Columbia, at the end of 2018.

Cyber Insurance: Industry News - Cyber Coverage Faces Legal Challenges as Foreign Attackers Step Up Their Game
With aggressive new foreign attacks on businesses and government agencies in the U.S., there are obvious business interruption and data security concerns.

U.S. Surplus Lines Service/Stamping Offices Report Double-Digit Growth in 2018
Surplus lines premium reported to the stamping offices was $31.4 billion for CY 2018, an 11.3% increase over CY 2017.

Autonomous Vehicles: APCI Summary - January 2019 Update
Recent legislative and regulatory activity at the state and federal levels as well as "news and notes" links to studies and articles related to the increasing automation of the driving function.

Autonomous Vehicles: Industry Report - Deloitte: Regulating the future of mobility

Marijuana/Cannabis: Article – Considerations for medical malpractice carriers on the risks behind new legislation and need to educate doctors about best practices for recommending medical marijuana.

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

NAIC Working Group Conducts Survey on Medical Malpractice Data Calls
The Medical Professional Liability (C) Working Group analyzed and reported the survey results to its parent Property Casualty Insurance (C) Committee at the Fall 2018 NAIC national meeting.

Marijuana/Cannabis: PCI Marijuana Working Group teleconference call - Dec. 14, 2018, 2:00 pm CST.
PCI members may contact david.kodama@pciaa.net to register for the call. Agenda items: Post Election Federal and State Updates, H.R. 5634 Medical Cannabis Research Act, and update on Impairment Standards.

NAIC Surplus Lines Task Force Advances Guideline on Nonadmitted Accident and Health Coverages
The (C) Task Force met by teleconference on November 7, 2018 to finalize discussion and adopt its Guideline on Nonadmitted Accident and Health Coverages.

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

Marijuana/Cannabis: NAIC Cannabis Insurance (C) Working Group
Insurance regulators of the working group will meet during the NAIC Fall national meeting to discuss the state of the insurance market for cannabis-related business activity.

Cyber Security: News Article - To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Cyber insurance panelists provide their insights into the state of the cyber insurance market and the challenges facing carriers thinking about entering the market.

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

Fitch Ratings: Excess & Surplus Lines Poised for Rebound in 2018
The U.S. excess and surplus lines insurance market is set to continue on the path of "modest recovery" after significant underperformance in 2017, according to a Fitch market report.

A.M.Best Releases 2018 Report on Surplus Lines Market Segment
A.M. Best released its 2018 annual report on the surplus lines insurance market. The overall surplus lines market grew in premium writings for a sixth consecutive year, as the market share of domestic professional surplus lines insurers declined slightly to 68.2% of the total direct premium of $44.9B written in the market segment.

News Article: 4 Hurdles to Overcome When Considering a Cannabis Product
The road to cannabis-related insurance product development is still under construction. There are bumps and unforeseen detours along the way.  Here are four hurdles to prepare for as you gear up to offer coverage for cannabis products.

Autonomous Vehicles: September 2018 Update
September 2018 summary of recent legislative and regulatory activity on Autonomous Vehicles at the state and federal levels as well as a "news and notes" section containing links to studies and articles related to the increasing automation of the driving function.

News Article: New Vermont Rules Regulate 'Gig Economy' Companies, Including Airbnb And Uber

VT lawmakers passed a short-term rental law for people who rent their homes on platforms like Airbnb and HomeAway, as well as a ride-sharing law that regulates drivers who use their cars through Uber or Lyft. Both went into effect on July 1.

NAIC Surplus Lines Task Force Meeting, August 4 - Summary
The Task Force met at the NAIC summer national meeting in Boston to discuss matters related to its 2019 Charges, A&H nonadmitted insurance coverage, and surplus lines market activity.

Autonomous Vehicles: August 2018 Update
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 studies and articles related to the increasing automation of the driving function.

Marijuana/Canabis: California Cannabis Track and Trace METRC system
Required cannabis licensee data collection increases data security vulnerabilities and liability risks.

Autonomous Vehicles - White Paper: How Auto Insurance Can Adapt to Changing Risks
A Travelers Institute white paper presents an assessment of the existing auto insurance structure, both personal and commercial, in the context of resolving claims and providing fair compensation to accident victims as vehicles become more autonomous.

Emerging Insurance Risks Database: Cyber Security; Food Fraud & Safety
Executive summary including: key background, associated risk to injury and damage, related legislation and regulation, liability exposure and insurance, pertinent litigation, and a future outlook.

Fifteen States Have Enacted Domestic Surplus Lines Insurer Legislation
During the 2018 state legislative sessions, Georgia and Virginia enacted legislation that establishes a "Domestic Surplus Lines Insurer" (DSLI) designation for a domestic insurer with the authority to write surplus lines insurance in the state.

Autonomous Vehicles: News Article - Liability in the age of autonomous vehicles
An estimated 4.5 million autonomous vehicles will be in operation by 2030 according to the IIHS, and insurers will need to adapt.

Marijuana (Cannabis): PCI Webinar REPLAY – In the Weed: A Tale of Cannabis and Insurance
On May 31, Dr. Brenda Wells presented the history of cannabis legality and use in American, and reports on what the legal climate looks like today.

Autonomous Vehicles: U.S. Senate Hearing - Innovation and America's Infrastructure - SUMMARY
The Senate Environment and Public Works Committee held a hearing examining the effects of emerging autonomous technologies on America’s roads and bridges. Topics included: (1) Evaluating Autonomous Vehicle Technology; (2) Autonomous Vehicle Regulations and Implementation; (3) Autonomous Vehicle Funding; and (4) Cybersecurity Implications. 

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

Marijuana: (News Article) Legal marijuana businesses are insurable with attention to the fine print

Marijuana: (DOI Press Release): CDI Renews Request to Insurers to Offer Insurance for Cannabis Industry

NAIC Surplus Lines Task Force Meeting Summary
The Task Force met on March 24, to discuss matters related to A&H insurance coverage, NAIC IID Plan of Operation, NFIP and private flood insurance, DSLI, and cyber insurance.