On a vote of 116-0 the Florida House of Representatives passed HB 853 this morning. The bill would clarify the surplus lines regulatory status in Florida put into question following the Florida Supreme Court's 2008 decision in Essex v. Zota.
A similar Senate bill (SB 1894) may be reviewed today by the Florida Senate.
Tuesday, April 28, 2009
Monday, April 27, 2009
Pennsylvania Considers Expanding Export List
The Insurance Commissioner of Pennsylvania is soliciting comments regarding expanding the export list. The Commissioner proposes to amend the May 24, 2008, list to add the following:
• Animal rides
• Crane and rigging contractors (liability and physical damage only)
• Crop dusters (aircraft liability and aircraft hull coverage only)
• Fuel and explosive haulers (excess auto liability and auto physical damage only)
• Hazardous waste haulers (excess auto liability and auto physical damage only)
• Hazardous waste storage and disposal (liability only)
• Products liability (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
• Products recall (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
Persons wishing to comment on the Commissioner's proposal may submit a written statement by May 3, 2009. Each written statement must include sufficient detail and relevant facts to inform the Insurance Department of the exact basis of the statement.
Written statements should be directed to Cressinda Bybee, Office of Corporate and Financial Regulation, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax (717) 787-8557, cbybee@state.pa.us.
Formal notification of any changes will be published in the Pennsylvania Bulletin after the 15-day comment period ends on May 1, or a notice will be published stating that the May 24, 2008, list remains in effect.
• Animal rides
• Crane and rigging contractors (liability and physical damage only)
• Crop dusters (aircraft liability and aircraft hull coverage only)
• Fuel and explosive haulers (excess auto liability and auto physical damage only)
• Hazardous waste haulers (excess auto liability and auto physical damage only)
• Hazardous waste storage and disposal (liability only)
• Products liability (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
• Products recall (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
Persons wishing to comment on the Commissioner's proposal may submit a written statement by May 3, 2009. Each written statement must include sufficient detail and relevant facts to inform the Insurance Department of the exact basis of the statement.
Written statements should be directed to Cressinda Bybee, Office of Corporate and Financial Regulation, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax (717) 787-8557, cbybee@state.pa.us.
Formal notification of any changes will be published in the Pennsylvania Bulletin after the 15-day comment period ends on May 1, or a notice will be published stating that the May 24, 2008, list remains in effect.
Wednesday, April 22, 2009
Zota Fix Moves Forward in Florida
Legislation to clarify the surplus lines regulatory status in Florida appears headed toward a full vote in the Florida House this week and the Florida Senate next week.
House and Senate committees acted favorably on bills that would restore the industry's exemption from state regulation of its forms and policies that was put in questions following the 2008 Florida Supreme Court's decision in Essex v. Zota.
The House bill (HB 853) and Senate bill (SB 1894) are now expected to be voted on by next week. While the bills would restore the industry's regulatory exemption retroactive to Oct. 1, 1988 some new requirements would be imposed, according to the Insurance Journal.
House and Senate committees acted favorably on bills that would restore the industry's exemption from state regulation of its forms and policies that was put in questions following the 2008 Florida Supreme Court's decision in Essex v. Zota.
The House bill (HB 853) and Senate bill (SB 1894) are now expected to be voted on by next week. While the bills would restore the industry's regulatory exemption retroactive to Oct. 1, 1988 some new requirements would be imposed, according to the Insurance Journal.
Monday, April 20, 2009
Spots Remain in E&S School
There are still spots available in the NAPSLO E&S School, scheduled for June 23-26 in St. Louis. The cost of the school is $1,200 and the registration deadline is May 15. Forms are available to download from the website.
The curriculum focuses on five segments: Risk Takers-and various markets; Distribution System - purpose & variations; MGAs and Brokers - managing the business; Market Dynamics - changing environments; and Cops - regulatory agencies.
In addition to the above topics, Steven DeCarlo of AmWins will present Perspectives From the Top, and there will an Executive Panel featuring:
- Ron Helveston - CRC Alabama
- Letha E. Heaton - Markel
- Tim Makowski - Specialty Lines Underwriters
- Robert Lala - Liberty International Underwriters
Registration Requirements
The NAPSLO E&S School is designed for insurance professionals with less than five years experience in the surplus lines industry. Persons with more than five years surplus lines experience are encouraged to attend the NAPSLO Advanced School, offered each Fall.
Hotel Accommodations
Attendees will stay at The Parkway Hotel, 4550 Forest Park Blvd., located on the campus of Washington University Medical Center.
Session Location
The Eric P. Newman Education Center is within walking distance of the hotel. After hotel check-in, attendees should stop by the NAPSLO registration desk (in the hotel lobby) to pick up class materials. All sessions will take place at the Newman Education Center.
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