Section 26-11-109 – Required Information on Surplus Lines Contracts; Duty to Notify Insured.
26-11-109. Required information on surplus lines contracts; duty to notify insured. (a) Every new or renewed insurance contract, certificate, cover note or other confirmation of insurance that is procured and delivered as a surplus lines coverage pursuant to this chapter shall have stamped or printed upon it, in at least ten (10) point bold type […]
Section 26-11-110 – Enforceability and Validity of Nonadmitted Insurance.
26-11-110. Enforceability and validity of nonadmitted insurance. Insurance contracts procured from nonadmitted insurers in accordance with this chapter are fully valid and enforceable as to all parties and shall be given recognition in all matters and respects to the same effect as like contracts issued by admitted insurers.
Section 26-11-111 – Liability of Insurer as to Losses and Unearned Premiums; Applicability of Section to Insurers.
26-11-111. Liability of insurer as to losses and unearned premiums; applicability of section to insurers. (a) As to a surplus line risk which is assumed by a nonadmitted insurer pursuant to this chapter, and if the premium thereon is received by the surplus line broker who placed the insurance, in all questions thereafter arising under […]
Section 26-11-101 – Short Title.
26-11-101. Short title. This chapter constitutes and may be cited as the “Nonadmitted Insurance Law”.