Participants in the excess and surplus lines market have been watching legal and regulatory developments in a number of states this year, including the three with the most E&S premium volume–California, Florida and New York.
A California lawsuit that could force surplus lines insurers to almost double the amount of taxes they pay the state headlines a host of state and local issues.
The suit, filed by several lawyers, contends a state agency that assesses taxes is wrongly failing to collect premium taxes from insurers who serve the state's nonadmitted market. The suit Silvers and Gold v. State Board of Equalization, Lexington, and John Does 1 through 500, No. BC388468, was filed in the spring against the agency and Lexington Insurance Company, but would also affect the approximately 160 other insurers who serve the state's nonadmitted market, experts say.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
