24-A §2020. Producer’s surety bond
§2020. Producer’s surety bond 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 funds coming into the […]
24-A §2007. Eligible surplus lines insurers
§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 […]
24-A §2008. Evidence of the insurance; changes; penalty
§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 […]
24-A §2009. Identification and notice on contract
§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 […]
24-A §2009-A. Cancellation and nonrenewal of surplus lines coverage
§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 […]
24-A §2001. Short title
§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).
24-A §2001-A. Scope
§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. […]
24-A §2002. Exemptions (REPEALED)
§2002. Exemptions (REPEALED) SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1987, c. 769, §A92 (AMD). PL 1993, c. 153, §15 (RP).
24-A §2002-A. Exemptions from provisions
§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 […]
24-A §2003. Definitions
§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 […]