Every insurance contract procured and delivered as a surplus line coverage pursuant to this chapter shall be initialed by or bear the name of the surplus line broker who procured it and shall have the following language stamped upon it: “This contract is registered and delivered as a surplus line coverage under the Insurance Code of the Virgin Islands.” It is not covered by the Virgin Islands Guaranty Fund as codified in 33 V.I.C. § 3061, which only protects an insured if an admitted insurer becomes insolvent.
Endorsement of contract
22 V.I.C. § 654 — under The Virgin Islands Unauthorized and Surplus Lines Insurer Act.
22 V.I.C. § 654