Modern Insurance Market Is Born in Lloyd’s Coffee House

In a London coffee house, Lloyd’s becomes the foundation of the modern insurance market, setting the stage for global risk transfer and surplus lines insurance. 

Supreme Court Rules Insurance Is Regulated by States

The U.S. Supreme Court rules in Paul v. Virginia that insurance is not subject to federal regulation, establishing state-level oversight for the industry. 

Lloyd’s Pays Every Claim After San Francisco Earthquake

After the devastating earthquake and fires, Lloyd’s underwriter Cuthbert Heath instructs agents to “pay all of our policyholders in full, irrespective of the terms of their policies.” 

Brokers Establish the Surplus Line Association of California

The California State Legislature enables surplus lines brokers to form the SLA to assist the insurance commissioner in overseeing surplus lines transactions. 

SLA Expands to Process Broker Filings and Collect Taxes

The SLA expands its role to process broker filings, enforce surplus lines regulations and collect taxes and fees, reducing brokers’ legal and administrative risks. 

Supreme Court Declares Insurance Interstate Commerce

The U.S. Supreme Court decision in the SE Underwriters case overturns Paul v. Virginia, declaring insurance as interstate commerce and opening the door for potential federal regulation. 

McCarran-Ferguson Act Restores State Control of Insurance

Congress reaffirms state oversight of insurance, empowering local regulation while the federal government opted out of direct control. 

California Establishes List of Eligible Surplus Lines Insurers

The California Department of Insurance (CDI) introduces the List of Eligible Surplus Line Insurers (LESLI) to provide brokers with a centralized list of insurers authorized to operate in the surplus lines market.  

Broker Keeps Boycott Moving During Civil Rights Movement

Theodore Martin Alexander works with Lloyd’s to secure coverage for carpools during the Montgomery Bus Boycott after insurance agents cancel policies, ensuring the boycott’s transportation network could continue. 

First-Ever Satellite Insurance Coverage Launches in California

Lloyd’s syndicates issue the first-ever satellite insurance policy for Intelsat 1, built by California’s Hughes Aircraft Company, covering physical damage to the satellite during pre-launch and paving the way for modern space insurance. 

SLA Begins Security Review Program to Protect Brokers

The SLA launches a review program to assist brokers in assessing the financial strength of E&S insurers, helping members mitigate risks when selecting insurers for their clients. 

California’s Prop. 103 Caps Rates and Reshapes the Market

California’s landmark law caps insurance rates and restricts certain types of surplus lines coverage, redefining the state’s regulatory environment. 

“Pirates of the Caribbean” Scam Triggers Surplus Lines Oversight

In the aftermath of the 1992 Los Angeles riots, fraudulent insurance schemes surge, including a notorious offshore insurer scam led by Alan Teale. The fallout exposes regulatory gaps and prompts stricter surplus lines oversight. 

SLA Appointed as Advisory Organization for the CDI

In response to rising fraud, Assembly Bill 865 establishes the framework for a surplus lines advisory organization, and the CDI appoints the SLA to fulfill this role, reinforcing regulatory oversight. That same year, LESLI is renamed LASLI to reflect the change from eligible to approved insurers. 

California Aligns Surplus Lines Regulation with Federal NRRA

The Nonadmitted and Reinsurance Reform Act (NRRA) centralizes surplus lines regulation under the insured’s home state, prompting California to pass AB 315 to align with federal requirements and streamline tax allocation and oversight. 

SLA Goes Digital with Cloud-Based Systems and SLIP

The SLA eliminates millions of sheets of paper by digitizing transactions and implementing the Surplus Lines Information Portal (SLIP), allowing brokers to electronically submit policy information and streamline operations. 

SLA Helps Found California Earthquake Response Association

The SLA partners with the California Earthquake Authority and industry leaders to establish the California Insurance Emergency Response Association (CIERA), enhancing capabilities to support brokers and their clients in earthquake-prone areas. 

Costliest Wildfires in State History Shift Insurance Risk Models

The record-breaking wildfire season, coupled with significant hurricanes, marks a turning point as wildfires are reclassified from a secondary to a primary peril, prompting shifts in underwriting capacity, rising insurance costs and increased reliance on surplus lines as admitted carriers reduce coverage in high-risk areas. 

SLA Relocates to San Ramon and Embraces Hybrid Work

Amid skyrocketing rents and an exodus of brokers from San Francisco, the SLA relocates its headquarters to San Ramon, leveraging technology to reduce its physical footprint, adapt to a hybrid work model and address challenges like PG&E blackouts that had disrupted operations. 

SLA Expands CE Courses with Web-Based Learning Center

The SLA launches the Learning Center, which shifts CE courses from in-person to on-demand and increasing the number of complimentary CDI-approved courses and webinars available to members. 

5at10 Show Keeps Employees Connected During COVID

The SLA launches a weekly company news broadcast filmed in its studio, featuring surplus lines updates, SLA event notices and employee milestones to keep staff engaged during remote work. 

SLA Co-Launches NESS and Organizes Global Risk Transfer Summit

The SLA, along with its partners, launches the National Excess and Surplus Summit (NESS), organizes the Global Risk Transfer Summit and establishes a Legal Compliance Department to serve the CDI and members—setting a new standard among associations. 

Salesforce and AI Tools Modernize SLA Operations

The SLA completes a major organizational shift by integrating Salesforce as a central platform, while broker-facing data analysis and AI tools strengthen the SLA’s advisory role on behalf of the CDI.