Title 83, Insurance

(1) Surplus lines insurance may be placed by a surplus lines insurance producer if:(a) Each insurer is an eligible surplus lines insurer;(b) Each insurer is authorized to write the line of insurance in its domiciliary jurisdiction; and(c) All other requirements as set forth by la…

(1) The Commissioner of Insurance may establish a stamping procedure for all eligible nonadmitted/surplus lines insurance policies sold on risks subject to the payment of premium taxes to the State of Mississippi. (2) The Commissioner of Insurance may rely upon the advice and ass…

(1) When any policy of personal lines insurance is procured under the authority of such license, the surplus lines insurance producer shall furnish to the insured at the time of policy deliverance an informational notice as promulgated by the commissioner. The informational notic…

(1) The surplus lines insurance producer shall report under oath to the Commissioner of Insurance, within thirty (30) days from the first of January and July of each year, the amount of gross premiums received by him for such insurance in nonadmitted insurers, and shall pay to th…

Nothing contained in Sections 83-21-17 through 83-21-31 shall authorize any person, firm, association, or corporation to guarantee or otherwise validate or secure the performance or legality of any agreement, instrument, or policy of insurance of any nonadmitted insurer, nor to p…

A nonadmitted insurer may be sued upon any cause of action arising in this state under any contract issued by it as hereinabove authorized, in a court of competent jurisdiction in any county in which the plaintiff may reside, or in which the cause of action arose. Any such policy…

(1) (a) No foreign insurance company, association, or other insurance entity, either stock, mutual, or reciprocal, shall be admitted to do business or granted a certificate of authority or license to do business in this state unless and until such company or association shall hav…

As to any policy or contract issued pursuant to Sections 83-21-17 through 83-21-31, and as to any claim for loss or damage arising under any such policy or contract, the cited sections shall apply. As to any such policy or contract issued by an unauthorized insurer in a manner no…

Sections 83-21-33 through 83-21-51 may be cited as “The Unauthorized Insurers Process Law.”

The purpose of Sections 83-21-33 through 83-21-51 is to subject certain insurers to the jurisdiction of courts of this state in suits by or on behalf of insureds or beneficiaries under insurance contracts. The legislature declares that it is a subject of concern that many residen…

Any of the following acts in this state, effected by mail or otherwise, by an unauthorized or alien insurer: (1) the issuance or delivery of contracts of insurance to residents of this state or to corporations authorized to do business therein, (2) the solicitation of application…

Such service of process shall be made by delivering to and leaving with the commissioner of insurance, or some person in apparent charge of his office, two (2) copies thereof and the payment to him of such fees as may be prescribed by law. The commissioner of insurance shall fort…

Service of process in any such action, suit or proceeding shall, in addition to the manner provided in Section 83-21-39, be valid if served upon any person within the state who, in this state on behalf of such insurer, is (1) soliciting insurance, or (2) making, issuing or delive…

No plaintiff or complainant shall be entitled to a judgment by default, or a judgment with leave to prove damages, or a judgment pro confesso under Sections 83-21-33 through 83-21-51, until the expiration of thirty (30) days from the date of the filing of the affidavit of complia…

Before any unauthorized insurer shall file or cause to be filed any pleading in any action, suit, or proceeding instituted against it, such unauthorized insurer shall either (1) deposit cash or securities with the clerk of the court in which such action, suit, or proceeding is pe…

The court, in any action, suit, or proceeding in which service is made in the manner provided in Sections 83-21-33 through 83-21-51, may, in its discretion, order such postponement as may be necessary to afford the defendant reasonable opportunity to comply with the provisions of…

Nothing in Sections 83-21-33 through 83-21-51 is to be construed to prevent an unauthorized foreign or alien insurer from filing a motion to quash a writ, or to set aside service thereof made in the manner provided herein, on the ground either (1) that such unauthorized insurer h…

No foreign company, if incorporated or organized under the laws of any government or state elsewhere than in the United States, shall be admitted until it has made a deposit with the treasurer of the state, or with the financial officer of some other states of the United States, …

In any action against an unauthorized foreign or alien insurer upon a contract of insurance issued or delivered in this state to a resident thereof or to a corporation authorized to do business therein, if the insurer has failed for thirty (30) days after demand prior to the comm…

Foreign insurance companies, upon complying with the conditions applicable to such companies, may be admitted to transact in this state, by constituted agents resident therein, any class of insurance authorized by the laws now or hereafter in force relative to the duties, obligat…

When an insurance company organized under the laws of any state or country is prohibited by the laws of said state or country or by its charter from investing its assets other than capital stock in the bonds of this state, then and in such case the commissioner of insurance is au…

Whenever it shall appear to the commissioner of insurance of this state that any insurance company incorporated in this state, or incorporated out of this state but doing business herein, (1) is insolvent, or (2) is in such condition that its further transaction of business will …

In the event the company in receivership is a foreign company and a receiver has been appointed in the state of domicile of the impaired company, the court shall dispense with the Mississippi receivership unless the court is of the opinion that a Mississippi receivership will bes…

In event of the appointment of a receiver of any insurance company, the chancery court having jurisdiction shall designate the commissioner of insurance as such receiver. He shall serve as such without compensation other than his regular salary, but the chancery court may authori…

In the administration of any receivership of an insurance company hereunder, the chancery court having jurisdiction may make all necessary orders, including, among others, (1) an order or orders to rehabilitate such company, which may direct the receiver to take possession of the…

This article shall apply to original receiverships and to ancillary receiverships. This article shall apply to all insurance companies operating under the insurance laws of this state including stock, mutual, fraternal benefit, and reciprocal or interinsurance companies, and to a…

This article shall be known and may be cited as the Mississippi Insurance Guaranty Association Law.

The purpose of this article is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detecti…

(a) This article shall apply to all kinds of direct insurance except the following:(a) Life, annuity, health or disability insurance;(b) Mortgage guaranty, financial guaranty or other forms of insurance offering protection against insolvent risks;(c) Fidelity or surety bonds, or …

This article shall be liberally construed to effect the purpose under Section 83-23-103, which shall constitute an aid and guide to interpretation.

(a) As used in this article:(a) “Affiliate” means a person who directly, or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with an insolvent insurer on December 31 of the year next preceding the date the insurer becomes an i…

There is created a nonprofit unincorporated legal entity to be known as the Mississippi Insurance Guaranty Association. All insurers defined as member insurers in Section 83-23-109 shall be and remain members of the association as a condition of their authority to transact insura…

(1) The board of directors of the association shall consist of not less than five (5) nor more than nine (9) persons, serving terms as established in the plan of operation. The members of the board shall be selected by member insurers, subject to the approval of the commissioner.…

(1) The association shall:(a) Be obligated to the extent of the covered claims existing prior to the determination of insolvency and arising within thirty (30) days after the determination of insolvency, or before the policy expiration date if less than thirty (30) days after the…

(1) (a) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments thereto shall become effective u…

(1) The commissioner shall:(a) Notify the association of the existence of an insolvent insurer not later than three (3) days after he receives notice of the determination of the insolvency.(b) Upon request of the board of directors, provide the association with a statement of the…

(1) Any person recovering under this article shall be deemed to have assigned his rights under the policy to the association to the extent of his recovery from the association. Every insured or claimant seeking the protection of this article shall cooperate with the association t…

(1) Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer, which is also a covered claim, shall be required to exhaust first his right under such policy. Any amount payable on a covered claim under this…

(a) To aid in the detection and prevention of insurer insolvencies:(a) It shall be the duty of the board of directors, upon majority vote, to notify the commissioner of any information indicating any member insurer may be insolvent or in a financial condition hazardous to the pol…

The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit, not later than March 30 of each year, a financial report for the preceding calendar year in a form approved by the commissioner.

The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real or personal property.

The rates and premiums charged for insurance policies to which this article applies may include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Such rates sha…

There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association, its agents or employees, the board of directors, or the commissioner or his representatives for any action taken or any failure to act by them …

All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall be stayed for six (6) months and for such additional time thereafter as may be determined by the court from the date the insolvency is determined or an anc…

(1) Within one hundred twenty (120) days of a final determination of insolvency of an insurer by a court of competent jurisdiction, the receiver, liquidator or statutory successor shall make application to the court for approval of a proposal to disburse assets out of such insure…

This article shall be known and may be cited as the “Mississippi Life and Health Insurance Guaranty Association Act”.