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 effort exception established by Public Act 25-87, effective
InsureReinsure
InsureReinsure, published by Troutman Pepper Locke, focuses on the regulatory and compliance aspects of surplus lines insurance. The blog covers topics such as the distinctions between admitted and surplus lines markets, the roles and responsibilities of surplus lines brokers, and the regulatory frameworks governing group insurance under the Nonadmitted and Reinsurance Reform Act (NRRA). It also addresses state-specific insurance developments, including licensing, tax obligations, and enforcement actions. Additionally, the blog discusses industry leadership changes, state regulatory bulletins, and emerging issues like the use of artificial intelligence in insurance. The content is aimed at professionals navigating the complexities of surplus lines and insurance regulation.
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Can Illinois Insurance Regulators Request Nationwide Homeowners Policy Information Under Examination Laws?
On October 10, 2025, the Illinois attorney general, on behalf of the Illinois insurance director, filed a complaint in the Circuit Court of Cook County, Chancery Division, Case No. 2025 CH 10454, against a large group of Illinois domestic property…
California Commissioner Announces Proposed Changes to Proposition 103 and Intervenor Process
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 1988 and last updated in 2006, currently authorizes “intervenors”…
New York Amends Voidable Transactions Law for Application to Federal Home Loan Banks
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 as the…
NYDFS Announces Leadership Change: Adrienne Harris to Step Down, Kaitlin Asrow Named Acting Superintendent
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 has appointed Kaitlin Asrow to serve as acting…
New York Legislators Investigate Residential Property Insurance
What Happened
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 the causes of reported…
Colorado Division of Insurance Expands AI Governance and Framework Regulation to Private Passenger Auto and Health Benefit Plan Insurers
On August 20, 2025, the Colorado Division of Insurance (Division) amended Regulation 10-1-1 to expand its existing limited applicability to insurers offering individual life insurance to apply to insurers offering private passenger auto and health benefit plans effective October 15,…
Red Teaming Is an Effective Tool for Insurer Assessment of AI Risks
The insurance industry is facing increased scrutiny from insurance regulators related to its use of artificial intelligence (AI). Red teaming can be leveraged to address some of the risks associated with an insurer’s use of AI. The U.S. Department of…
Illinois Amends the Definition of “Home State” for Unaffiliated Groups Under Its Surplus Lines Laws
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…
Connecticut Updates Its Captive Insurance Laws
Effective October 1, 2025, Public Act No. 25-130 amends Connecticut’s captive insurance laws. Important amendments under the act include:…