§33-12C-1. Short Title
This article shall be known and may be cited as "The Nonadmitted Insurance Act".
§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 […]
§33-12C-18. Penalties
(a) A person who in this state represents or aids a nonadmitted insurer in violation of this article is guilty of a misdemeanor and, upon conviction thereof, may be fined not more than $10,000 per each act or sentenced to not less than ten days nor more than one year, or both fined and imprisoned. […]
§33-12C-19. Violations
Whenever the commissioner believes, from evidence satisfactory to him or her, that a person is violating or about to violate the provisions of this article, the commissioner may cause a complaint to be filed in the circuit court of Kanawha County for restitution and to enjoin and restrain the person from continuing the violation or […]
§33-12C-2. Purpose – Necessity for Regulation
This article shall be liberally construed and applied to promote its underlying purposes which include: (a) Protecting persons seeking insurance in this state; (b) Permitting surplus lines insurance to be placed with reputable and financially sound nonadmitted insurers and exported from this state pursuant to this article; (c) Establishing a system of regulation which will […]
§33-12C-20. Service of Process
(a) Any act of transacting insurance by an unauthorized person or a nonadmitted insurer is equivalent to and shall constitute an irrevocable appointment by the unauthorized person or insurer, binding upon it, its executor or administrator, or successor in interest of the Secretary of State or his or her successor in office, to be the […]
§33-12C-21. Legal or Administrative Procedures
(a) Before any nonadmitted insurer files or causes to be filed any pleading in any court action, suit or proceeding or in any notice, order, pleading or process in an administrative proceeding before the commissioner instituted against the person or insurer, by services made as provided in this article, the insurer shall either: (1) File […]
§33-12C-22. Enforcement
(a) The commissioner shall have the authority to proceed in the courts of this state or any other United States jurisdiction to enforce an order or decision in any court proceeding or in any administrative proceeding before the commissioner of insurance. (b) Filing and status of foreign decrees. A copy of a foreign decree authenticated […]
§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-24. Countersignature Requirements
Surplus lines insurance shall be countersigned by a duly licensed resident surplus lines licensee: Provided, That the countersignature requirements imposed by this section shall no longer be required for any surplus line of insurance executed, issued or delivered after December 31, 2004.
§33-12C-25. Fees
The commissioner shall receive the following fees from surplus lines licensees: For letters of certification, $5; for letters of clearance, $10; for duplicate license, $5. All fees and moneys so collected shall be used for the purposes set forth in section thirteen, article three of this chapter.
§33-12C-26. Coverage Must Be Placed in Solvent Insurer
No surplus lines licensee may knowingly place any coverage in an insolvent insurer.
§33-12C-27. Change of Address
A surplus lines licensee shall notify the commissioner of any change in his or her mailing address within thirty days of such change. The commissioner shall maintain the mailing address of each surplus lines licensee on file. Failure to timely inform the Insurance Commissioner of a change in legal name or address may result in […]