Section 3-327 – Short Title
This subtitle is the Surplus Lines Insurance Law.
Section 3-302 – Scope of Subtitle
(a) This subtitle does not apply to: (1) life insurance; (2) health insurance, except as provided in subsection (c) of this section; (3) annuities; (4) reinsurance; (5) wet marine and transportation insurance, except as provided in subsection (b) of this section; (6) insurance on a subject that is located, resident, or to be performed wholly outside the State; (7) insurance on vehicles or […]
Section 3-316 – Term and Renewal of Certificate of Qualification
(a) Unless a certificate of qualification is renewed for a 2–year term as provided in this section, the certificate of qualification expires every other year on the date stated on the certificate of qualification. (b) At least 1 month before a certificate of qualification expires, the Commissioner shall send to the holder of the certificate of qualification, […]
Section 3-303 – Placement of Insurance With Alien Insurer
Except as provided in § 3-319(b) of this subtitle, this subtitle does not limit the right of a surplus lines broker to place surplus lines insurance with an alien insurer that has qualified with the nonadmitted insurer information office of the National Association of Insurance Commissioners.
Section 3-304 – Regulations
The Commissioner may adopt reasonable regulations consistent with this subtitle to: (1) carry out this subtitle; (2) establish procedures for determining the eligibility of particular proposed coverages for placement with surplus lines insurers and maintain a list of the identified coverages; (3) allow an exempt commercial purchaser to waive the diligent search requirement under § 3–306 of this […]
Section 3-305 – Compliance With Filing Requirement
A report, affidavit, or return that must be filed under this subtitle complies with the filing requirement if the report, affidavit, or return is: (1) mailed and postmarked by the United States Postal Service on or before the filing date; (2) delivered on or before the filing date to a private delivery service recognized by the Commissioner, […]
Section 3-306 – Procuring Surplus Lines Insurance Authorized
(a) Surplus lines insurance may be procured from an unauthorized insurer if: (1) for surplus lines insurance procured through a broker, the surplus lines insurance is procured through a qualified surplus lines broker; (2) subject to the provisions of § 3–306.1 of this subtitle, a diligent search is made among the authorized insurers that are writing the particular […]
Section 3-306.1 – Diligent Search — When Deemed Completed or Unnecessary
(a) (1) A diligent search required by § 3–306 of this subtitle shall be deemed completed if: (i) the insured or the surplus lines broker or insurance producer obtains declinations of a risk from three authorized insurers that are writing the particular kind and class of insurance in this State; and (ii) the declinations are included in the affidavit […]
Section 3-306.2 – Disability Insurance and Short-Term Medical Insurance — Nonadmitted Insurers
(a) Subject to subsections (b) through (e) of this section, disability insurance and short–term medical insurance under § 3–302(c) of this subtitle may be procured from a nonadmitted insurer if the coverage procured is in excess of coverage available from, or is not available from, an admitted insurer that writes that particular kind and class of […]
Section 3-307 – Affidavit
(a) An affidavit that sets forth the facts referred to in § 3–306 of this subtitle and any other facts required by the Commissioner must be personally executed by the surplus lines broker or the originating insurance producer at the time the surplus lines insurance is placed. (b) The affidavit must be filed with the Commissioner on […]