Title 24-A, Title 24-A

1. The superintendent may by order declare eligible for export generally and without compliance with section 2004, subsections 2, 3 and 4, any class or classes of insurance coverage or risk for which the superintendent finds, after a hearing of which notice was given to each insu…

1. A producer may not knowingly place surplus lines insurance with an insurer that is unsound financially or that is ineligible under this section. 2. The superintendent shall from time to time publish a list of all surplus lines insurers determined by the superintendent to be el…

1. Upon placing a surplus lines coverage, the producer shall promptly issue and deliver to the insured evidence of the insurance consisting either of the policy as issued by the insurer, or, if such policy is not then available, the surplus lines producer's certificate. Such a ce…

The surplus lines licensee shall give a consumer notice to every person applying for insurance with a nonadmitted insurer. The notice must be printed in 16-point type on a separate document affixed to the application. The applicant shall sign and date a copy of the notice to ackn…

1. Notice. Cancellation or nonrenewal by an insurer of surplus lines coverage subject to this chapter is not effective unless received by the named insured on or before the date specified in this subsection. A postal service certificate of mailing to the named insured at the insu…

Insurance contracts procured as surplus line coverage from nonadmitted insurers in accordance with this chapter are fully valid and enforceable as to all parties, and must be given recognition in all matters and respects to the same effect as like contracts issued by authorized i…

1. As to a surplus lines risk that has been assumed by a nonadmitted insurer pursuant to this chapter, and if the premium has been received by the producer with surplus lines authority who placed such insurance, in all questions arising under the coverage as between the insurer a…

1. Any person while licensed in this State as a resident producer who is determined by the superintendent to be competent and trustworthy with respect to the handling of surplus lines, and while maintaining an office at a designated location in this State, may be licensed as a pr…

1. Notwithstanding Title 5, chapter 375, subchapter VI, the superintendent may, after notice and opportunity for hearing, deny, revoke, suspend or limit the permissible activities under any surplus lines authority: A. If the producer fails to remit the tax as required by section …

A licensed producer with surplus lines authority may accept and place surplus line business for any insurance producer licensed in this State for the kind of insurance involved, and may compensate the producer for the business.

1. Each producer shall keep in the producer's office a full and true record of each surplus lines coverage procured by the producer, including a copy of each daily report, if any, a copy of each certificate of insurance issued, books of account in which financial entries are reco…

1. Each producer with surplus lines authority shall maintain in the producer's office a monthly report showing the amount of insurance placed for any person or organization, the location of each risk, the gross premium charged, the name of each insurer with which the insurance wa…

If any producer fails to remit the tax provided by section 2016 within 30 days after the tax is due, the superintendent may, following an adjudicatory hearing, assess a penalty of not less than $25 for each day of delinquency. Any fine collected by the superintendent must be paid…

1. A suit in this State against a nonadmitted insurer, upon any cause of action arising in the State under any contract issued by it as a surplus lines contract pursuant to this law, must be brought in the Superior Court. 2. Before the surplus lines insurer may do business in thi…

1. Every applicant for a surplus lines producer's authority shall file with the superintendent evidence of a bond in favor of the State executed by an authorized surety insurer. The bond is conditioned upon full accounting and due payment to the person entitled to the bond of fun…