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[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” custom_margin=”0px||20px||false|false” custom_padding=”0px||0px||false|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/vimeo.com\/1054656873\/4c0de6c825?share=copy” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_video][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” header_font=”Montserrat|800|||||||” header_text_color=”#FFFFFF” custom_margin=”||7px||false|false” global_colors_info=”{}”]<\/p>\n
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Like the giant sequoia, the SLA\u2019s roots run deep\u2014grounded in a strong foundation while continually reaching new heights. From record-breaking achievements to bold new initiatives, 2024 was a year of transformation. This video takes you inside the milestones, innovations and people who made it all possible. Watch now to see how we\u2019re shaping the future of surplus lines.<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” custom_margin=”0px||0px||false|false” custom_padding=”0px||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” header_font=”Montserrat|800|||||||” custom_margin=”||7px||false|false” global_colors_info=”{}”]<\/p>\n
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For nearly a century, the SLA has played a crucial role in shaping the surplus lines marketplace. This timeline highlights key milestones in both the SLA\u2019s history and the broader evolution of surplus lines\u2014tracing regulatory shifts, market changes and innovations that continue to drive the insurance industry forward.<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][dipi_timeline _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][dipi_timeline_item title=”1688″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/Lloyds-Coffee-House-2-1024×654-1.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Modern Insurance Market Is Born in Lloyd\u2019s Coffee House <\/span><\/span><\/strong><\/p>\n In a London coffee house, Lloyd\u2019s <\/span>be<\/span>comes<\/span> the foundation of the modern insurance market, setting the stage for global risk transfer and surplus lines insurance<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1869″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/Supreme_Court_1869.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Supreme Court Rules Insurance Is Regulated by States <\/span><\/span><\/strong><\/span><\/span><\/p>\n The <\/span>U.S. <\/span>Supreme Court rule<\/span>s<\/span> <\/span>in <\/span><\/span>Paul v. Virginia<\/span><\/span> <\/span>that insurance is not subject to federal regulation, <\/span>establishing<\/span> state-level oversight for the industry.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1906″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/Post-and-Grant-Avenue-Look.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Lloyd\u2019s Pays Every Claim After San Francisco Earthquake <\/span><\/span><\/strong><\/p>\n After the devastating earthquake and fires, <\/span>Lloyd\u2019s underwriter Cuthbert Heath <\/span>instructs<\/span> agents to <\/span>\u201c<\/span>pay all of our policyholders in full, irrespective of the terms of their policies<\/span>.\u201d<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1937″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Brokers Establish the Surplus Line Association of California <\/span><\/span><\/strong><\/p>\n The California<\/span> State<\/span> Legislature enabl<\/span>es<\/span> surplus lines brokers to form the SLA to <\/span>assist<\/span> the <\/span>i<\/span>nsurance <\/span>c<\/span>ommissioner in overseeing surplus lines transactions.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1939″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n SLA Expands to Process Broker Filings and Collect Taxes <\/span><\/span><\/strong><\/p>\n The SLA expand<\/span>s<\/span> its role to process broker filings<\/span>,<\/span> enforce surplus lines regulations<\/span> and collect taxes and fees<\/span>, reducing<\/span> brokers\u2019<\/span> legal and administrative risks.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1944″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/history-court-stone-court-portra.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Supreme Court Declares Insurance Interstate Commerce <\/span><\/span><\/strong><\/p>\n The <\/span>U.S. <\/span>Supreme Court decision in <\/span>the SE Underwriters case<\/span> overturn<\/span>s<\/span> <\/span><\/span>Paul v. Virginia<\/span><\/span>, declaring insurance as interstate commerce and opening the door for potential federal regulation.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1945″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n McCarran-Ferguson Act Restores State Control of Insurance <\/span><\/span><\/strong><\/p>\n Congress reaffirm<\/span>s<\/span> state oversight of insurance, empowering local regulation while the federal government opted out of direct control.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1949″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n California Establishes List of Eligible Surplus Lines Insurers <\/span><\/span><\/strong><\/p>\n The <\/span>C<\/span>alifornia Department of Insurance<\/span> (CDI)<\/span> introduce<\/span>s<\/span> the List of Eligible Surplus Line Insurers (LESLI) to provide brokers with a centralized list of insurers authorized to <\/span>operate<\/span> in the surplus lines market.\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1956″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/Rosa-Parks-bus-Montgomery-Alabam.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Broker Keeps Boycott Moving During Civil Rights Movement <\/span><\/span><\/strong><\/p>\n Theodore Martin Alexander works with Lloyd\u2019s to secure coverage for carpools during the Montgomery Bus Boycott after insurance agents cancel policies, ensuring the boycott\u2019s transportation network could continue.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1965″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/satellite.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n First-Ever Satellite Insurance Coverage Launches in California <\/span><\/span><\/strong><\/p>\n Lloyd\u2019s syndicates issue the first-ever satellite insurance policy for Intelsat 1, built by California\u2019s Hughes Aircraft Company, covering physical damage to the satellite during pre-launch and paving the way for modern space insurance.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1987″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n SLA Begins Security Review Program to Protect Brokers<\/strong> <\/span><\/span><\/p>\n The SLA launch<\/span>es<\/span> a review program to <\/span>assist<\/span> brokers in assessing the financial strength of <\/span>E&S<\/span> insurers, helping members mitigate risks when selecting insurers for their clients.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1988″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/103-CROP.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n California\u2019s Prop. 103 Caps Rates and Reshapes the Market <\/span><\/span><\/strong><\/p>\n California\u2019s landmark law cap<\/span>s<\/span> insurance rates and restrict<\/span>s<\/span> certain types of surplus lines coverage, redefining the state\u2019s regulatory environment.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1993″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/headline.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n \u201cPirates of the Caribbean\u201d Scam Triggers Surplus Lines Oversight <\/span><\/span><\/strong><\/p>\n In the aftermath of the 1992 Los Angeles riots, fraudulent insurance schemes surge, including a notorious offshore insurer <\/span>scam<\/span> led by Alan Teale. The fallout exposes regulatory gaps and prompts stricter surplus lines oversight.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”1994″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/cdi250.png” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n SLA Appointed as Advisory Organization for the CDI <\/span><\/span><\/strong><\/p>\n In response to rising fraud, Assembly Bill 865 <\/span>establishes<\/span> the framework for a surplus <\/span>lines<\/span> advisory organization, and the CDI appoints the SLA to fulfill this role, reinforcing regulatory oversight. That same year, LESLI <\/span>is<\/span> renamed LASLI to reflect the change from eligible to approved insurers.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”2011″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n California Aligns Surplus Lines Regulation with Federal NRRA <\/span><\/span><\/strong><\/p>\n The <\/span>Nonadmitted<\/span> and Reinsurance Reform Act (NRRA)<\/span> centralize<\/span>s<\/span> surplus lines regulation under the insured\u2019s home state, prompting California to pass AB 315 to align with federal requirements and streamline tax allocation and oversight.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”2015″ _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” title_text=”SLIP-logo” image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/SLIP-logo.png” sticky_enabled=”0″]<\/p>\n SLA Goes Digital with Cloud-Based Systems and SLIP <\/span><\/span><\/strong><\/p>\n The SLA <\/span>eliminate<\/span>s<\/span> millions of sheets of paper by digitizing transactions and <\/span>implementing<\/span> the Surplus Lines Information Portal (SLIP), <\/span>allowing brokers to electronically <\/span>submit<\/span> policy information and streamline operations.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”2016″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/CIERRA_LOGO.png” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n SLA Helps Found California Earthquake Response Association <\/span><\/span><\/strong><\/p>\n The SLA <\/span>partner<\/span>s<\/span> with the California Earthquake Authority and industry leaders to <\/span>establish<\/span> <\/span>the <\/span>California Insurance Emergency Response Association<\/span> (CIERA)<\/span>, enhancing capabilities to support brokers and their clients in earthquake-prone areas.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”2018″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/campfire.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Costliest Wildfires in State History Shift Insurance Risk Models <\/span><\/span><\/strong><\/p>\n 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 <\/span>capacity<\/span>, rising insurance costs and increased reliance on surplus lines as admitted carriers reduce coverage in high-risk areas.<\/span><\/span>\u00a0<\/span><\/p>\n [\/dipi_timeline_item][dipi_timeline_item title=”2018″ image=”http:\/\/slaannualreport.com\/2024\/wp-content\/uploads\/sites\/9\/2025\/02\/br-workplace-canopy-1-scaled-1.jpg” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n SLA Relocates to San Ramon and Embraces Hybrid Work <\/span><\/span><\/strong><\/p>\n