§2001-A. Scope This chapter applies exclusively to transactions when this State is the home state of the applicant or insured. Nothing in this chapter applies to the sale, solicitation, negotiation, placement or writing of contracts of insurance for any applicant or insured whose home state is in a jurisdiction other than in this State. […]
§2001. Short title This chapter constitutes and may be cited as the “Surplus Lines Law.” [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW).
§2002-A. Exemptions from provisions 1. The following kinds of insurance must be procured from authorized insurers and are not eligible for export in the surplus lines market: A. Life insurance; [PL 1993, c. 153, §16 (NEW).] B. Health insurance, except disability insurance; or [PL 2019, c. 20, §1 (AMD).] C. Employee benefit […]
§2002. Exemptions (REPEALED) SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1987, c. 769, §A92 (AMD). PL 1993, c. 153, §15 (RP).
§2003. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2011, c. 331, §3 (NEW); PL 2011, c. 331, §§16, 17 (AFF).] 1. “Producer” means a producer with surplus lines authority duly licensed as such under this chapter. [PL 2011, c. 331, §3 […]
§2004. Conditions for export If certain insurance coverages cannot be procured from authorized insurers, such coverages, hereinafter designated “surplus lines,” may be procured from unauthorized insurers, subject to the following conditions: [PL 1969, c. 132, §1 (NEW).] 1. The insurance must be procured through a licensed producer with surplus lines authority. [PL 1997, […]
§2005. Report of coverage (REPEALED) SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1969, c. 177, §29 (RPR). PL 1973, c. 585, §12 (AMD). PL 1997, c. 592, §51 (RP).
§2006. Open lines for export 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 insurer authorized to transact […]
§2007. Eligible surplus lines insurers 1. A producer may not knowingly place surplus lines insurance with an insurer that is unsound financially or that is ineligible under this section. [PL 1997, c. 592, §54 (AMD).] 2. The superintendent shall from time to time publish a list of all surplus lines insurers determined by the […]
§2008. Evidence of the insurance; changes; penalty 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 certificate must […]
§2009-A. Cancellation and nonrenewal of surplus lines coverage 1. Notice. Cancellation and nonrenewal by an insurer of surplus lines coverage subject to this chapter shall not be effective unless received by the named insured at least 14 days prior to the effective date of cancellation or, when the cancellation is for nonpayment of premium, at […]
§2009. Identification and notice on contract Every insurance contract procured and delivered as a surplus lines coverage pursuant to this chapter shall have stamped upon it, and bearing the name of the producer with surplus lines authority who procured it, the following: [PL 1997, c. 592, §56 (AMD).] “This insurance contract is issued pursuant […]
§2010. Surplus lines insurance valid Insurance contracts procured as surplus line coverage from unauthorized insurers in accordance with this chapter shall be fully valid and enforceable as to all parties, and shall be given recognition in all matters and respects to the same effect as like contracts issued by authorized insurers. [PL 1969, c. […]
§2011. Insurer’s liability for losses and unearned premiums 1. As to a surplus lines risk that has been assumed by an unauthorized 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 […]
§2012. Surplus lines authority 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 producer with surplus […]
§2013. License suspension or revocation 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 2018; [PL 2001, c. 259, […]
§2014. Producer with surplus lines authority may compensate another producer 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. [PL 1997, c. 592, §60 (AMD).] SECTION HISTORY […]
§2015. Record of procured coverages 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 recorded respecting […]
§2016. Periodic reports and tax payments 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 was placed, the date […]
§2017. Annual report (REPEALED) SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 1991, c. 674, §1 (RPR). PL 1995, c. 329, §30 (RP).
