Title 15 — Commerce and TradeRelease 119-73
§8205 Streamlined application for commercial purchasers
Title 15 › Chapter CHAPTER 108— - STATE-BASED INSURANCE REFORM › Subchapter SUBCHAPTER I— - NONADMITTED INSURANCE › § 8205
Summary
A surplus-lines broker placing nonadmitted insurance to an exempt commercial purchaser need not search the admitted market when the broker warns admitted insurers may offer more protection and oversight and the purchaser asks in writing.
Full Legal Text
Title 15, §8205
Commerce and Trade — Source: USLM XML via OLRC
A surplus lines broker seeking to procure or place nonadmitted insurance in a State for an exempt commercial purchaser shall not be required to satisfy any State requirement to make a due diligence search to determine whether the full amount or type of insurance sought by such exempt commercial purchaser can be obtained from admitted insurers if—
(1)the broker procuring or placing the surplus lines insurance has disclosed to the exempt commercial purchaser that such insurance may or may not be available from the admitted market that may provide greater protection with more regulatory oversight; and
(2)the exempt commercial purchaser has subsequently requested in writing the broker to procure or place such insurance from a nonadmitted insurer.
Reference
Citations & Metadata
Citation
15 U.S.C. § 8205
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73