§33-12C-23. Suits by Nonadmitted Insurers
A nonadmitted insurer may not commence or maintain an action in law or equity, including arbitration or any other dispute resolution mechanism, in this state to enforce any right arising out of any insurance transaction except with respect to: (a) Claims under policies lawfully written in this state; (b) Liquidation of assets and liabilities of […]
§33-12C-9. Suspension, Revocation or Nonrenewal of Surplus Lines Licensee's License
(a) The commissioner may examine and investigate the business affairs of every individual applying for or holding a surplus lines insurance license to determine whether such individual has been or is engaged in unfair or deceptive practices in any state. (b) The commissioner may place on probation, suspend, revoke or refuse to issue or renew […]
§33-12C-10. Actions Against Eligible Surplus Lines Insurers Transacting Surplus Lines Business
(a) An eligible surplus lines insurer may be sued upon a cause of action arising in this state under a surplus lines insurance contract made by it or evidence of insurance issued or delivered by the surplus lines licensee. A policy issued by the eligible surplus lines insurer shall contain a provision stating the substance […]
§33-12C-11. Duty to File Evidence of Insurance and Affidavits
(a) On or before March 1, 2004, and on or before March 1 thereafter, each surplus lines licensee shall file, on a form prescribed by the commissioner, a report under oath, setting forth facts from which it may be determined whether the requirements of section five of this article have been met with respect to […]
§33-12C-12. Evidence of the Insurance and Subsequent Changes to the Insurance
(a) Upon placing surplus lines insurance, the surplus lines licensee shall promptly deliver to the insured the policy, or if the policy is not then available, a certificate as described in subsection (d) of this section, cover note, binder or other evidence of insurance. The certificate described in subsection (d) of this section, cover note, […]
§33-12C-13. Licensee's Duty to Notify Insured
(a) No contract of insurance placed by a surplus lines licensee under this article shall be binding upon the insured and no premium or fee charged shall be due and payable until the surplus lines licensee shall have notified the insured in writing, in a form acceptable to the commissioner, a copy of which shall […]
§33-12C-14. Effect of Payment to Surplus Lines Licensee
A payment of premium to a surplus lines licensee acting for a person other than itself in procuring, continuing or renewing any policy of insurance procured under this section shall be deemed to be payment to the insurer, whatever conditions or stipulations may be inserted in the policy or contract notwithstanding.
§33-12C-15. Surplus Lines Licensees May Accept Business From Other Producers
A surplus lines licensee may originate surplus lines insurance or accept such insurance from any other individual insurance producer duly licensed as to the kinds of insurance involved, and the surplus lines licensee may compensate the individual insurance producer for the business. The surplus lines licensee shall have the right to receive from the insurer […]
§33-12C-16. Records of Surplus Lines Licensee
(a) Each surplus lines licensee shall keep in this state a full and true record of each surplus lines insurance contract placed by or through the licensee, including a copy of the policy, certificate, cover note or other evidence of insurance showing each of the following items applicable: (1) Amount of the insurance, risks and […]
§33-12C-17. Reports – Summary of Exported Business
(a) On or before May 1, 2004, and on or before May 1 thereafter, the end of the month following each year, each surplus lines licensee shall file with the commissioner, on forms prescribed by the commissioner, a verified report in duplicate of all surplus lines insurance transacted during the preceding period; (b) The report […]