24-A §2015. Record of procured coverages
§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 […]
24-A §2016. Periodic reports and tax payments
§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 […]
24-A §2017. Annual report (REPEALED)
§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 Annual report (REPEALED) SECTION HISTORY PL 1969, c. 132, §1 (NEW).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).
24-A §2018. Failure to pay tax
§2018. Failure to pay tax 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 to […]
24-A §2019. Legal process against surplus line insurer
§2019. Legal process against surplus line insurer 1. An unauthorized insurer shall be sued, upon any cause of action arising in the State under any contract issued by it as a surplus lines contract pursuant to this law, in the Superior Court. [PL 1969, c. 132, §1 (NEW).] 2. Before the surplus lines insurer […]
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 […]