33-2-324. and 33-2-325 reserved
33-2-324 and 33-2-325 reserved.
33-2-326. Penalties
33-2-326. Penalties. A surplus lines insurance producer who in this state represents or aids an unauthorized insurer in violation of this part is subject to the penalties and procedures in 33-1-317 and 33-1-318. History: En. Sec. 19, Ch. 537, L. 1987; amd. Sec. 2, Ch. 713, L. 1989; amd. Sec. 11, Ch. 380, L. 2003.
33-2-323. Authorization for agreements with other state regarding multistate risks
33-2-323. Authorization for agreements with other state regarding multistate risks. (1) Following negotiated rulemaking under Title 2, chapter 5, the commissioner may enter into a cooperative or reciprocal agreement with other states, individually or collectively, for the purposes of collecting, allocating, and disbursing premium taxes and fees attributable to multistate risks. The allocation methodology of any […]
33-2-314. Actions against insurer — venue
33-2-314. Actions against insurer — venue. Every unauthorized insurer issuing a surplus lines insurance policy under this part is considered to be doing business in this state as an unauthorized insurer and may be sued in this state upon any cause of action arising under any insurance contract so made by it. Such suit must be […]
33-2-315. Service of process
33-2-315. Service of process. (1) Every surplus lines insurer before transacting surplus lines insurance under this part shall designate a registered agent with the commissioner as provided in 33-1-605. (2) Service upon such an insurer must be made pursuant to 33-1-605 or 33-1-606. History: En. Sec. 199, Ch. 286, L. 1959; R.C.M. 1947, 40-3424; amd. Sec. 18, Ch. […]
33-2-316. Rules
33-2-316. Rules. The commissioner shall make reasonable rules, consistent with this part, for any of the following purposes: (1) effectuation of The Surplus Lines Insurance Law; and (2) establishment of procedures through which determination is to be made as to the eligibility of particular proposed coverages for placement with a surplus lines insurer or insurers. History: En. Sec. 200, […]
33-2-317. Exemptions
33-2-317. Exemptions. The Surplus Lines Insurance Law does not apply to reinsurance or to the following kinds of insurance when placed by a licensed insurance producer of this state: (1) wet marine insurance; (2) insurance on property or operations of railroads engaged in interstate commerce; and (3) insurance of aircraft owned or operated by manufacturers of aircraft or aircraft […]
33-2-318. Exempt commercial purchaser defined
33-2-318. Exempt commercial purchaser defined. (1) An exempt commercial purchaser means an individual or business entity who at the time of placement: (a) employs or retains a qualified risk manager to negotiate insurance coverage; (b) has paid aggregate nationwide commercial property and casualty insurance premiums in excess of $100,000 in the immediately preceding 12 months; and (c) meets at […]
33-2-319. Qualified risk manager defined
33-2-319. Qualified risk manager defined. (1) A qualified risk manager means a person who: (a) is an employee of or a third-party consultant retained by the commercial policyholder; (b) provides skilled services in loss prevention, loss reduction, or risk and insurance coverage analysis and purchases of insurance; and (c) has the qualifications specified in subsection (2). (2) To be a […]
33-2-320. Surplus lines insurance producer fee
33-2-320. Surplus lines insurance producer fee. (1) A surplus lines insurance producer may collect a flat fee per policy for business placed in the surplus lines insurance market. The fee may not exceed: (a) $50 for a personal lines insurance policy; or (b) $100 for a commercial lines insurance policy. (2) The fees allowed under this section are not […]