Last edited by Zulkizuru
Tuesday, August 4, 2020 | History

6 edition of Licensing, Countersigning & Surplus Lines Laws found in the catalog.

Licensing, Countersigning & Surplus Lines Laws

For the 50 States, District of Columbia, Territories and Possessions 2003

by Michael K. McCracken

  • 162 Want to read
  • 5 Currently reading

Published by Natl Underwriter Co .
Written in English

    Subjects:
  • Insurance - General,
  • Business & Economics,
  • Business/Economics

  • The Physical Object
    FormatPaperback
    Number of Pages537
    ID Numbers
    Open LibraryOL11112063M
    ISBN 100872187055
    ISBN 109780872187054
    OCLC/WorldCa56315330

    Licensing & Surplus Lines Laws Published annually by the National Underwriter Co. Licensing procedures, policy countersigning requirements and a brief overview of surplus line laws by state. $ from Nat'l Underwriter (Book or Online Access). session law - an act to modernize the surplus lines act by including alien insurers in the definition of an eligible surplus lines insurer, by repealing countersigning requirements, and by providing greater flexibility for the manner of collection and refund of the surplus lines tax.

    Definition of Countersignature Law in the Financial Dictionary - by Free online English dictionary and encyclopedia. which has gone to federal court in six states and jurisdictions where countersignature laws remain on the books, arguing those statutes are the policy of some states to impose a surplus lines tax on risk retention groups. The purpose of this bulletin is to provide information to licensed California surplus line brokers concerning the Commissioner's views of certain surplus line market practices with respect to transactions performed in this state by licensed surplus line brokers, particularly those affiliated with a non-admitted insurer or part of a corporate family that includes a non-admitted insurer.

    property and casualty insurer. For a firm to obtain a Surplus Lines license, all affiliates, officers and employees placing business must be licensed as Surplus Lines brokers and hold countersigning authority from a Surplus Lines insurer. Prometric of Windsor Mills, Maryland, administers the examination program.   Licensing & Surplus Lines Laws reviews the licensing and surplus lines laws for the fifty states, the District of Columbia and territories and possessions. This valuable resource includes a summary of licensing requirements for resident and nonresident insurance professionals, continuing education, cancellation of appointments, risk retention and purchasing groups, and commissions and.


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Licensing, Countersigning & Surplus Lines Laws by Michael K. McCracken Download PDF EPUB FB2

Licensing & Surplus Lines Laws reviews the latest licensing and surplus lines laws for the fifty states, the District of Columbia, and the U.S territories and possessions, all in one easy-to-navigate resource.

The book is divided into two main sections: 1) Licensing and 2) Surplus Lines Laws. Information in those sections is then broken down on a state-by-state basis with statutory and. FC&S Licensing, Countersigning & Surplus Lines Laws ed [National Underwriter Inhouse editors & writers] on *FREE* shipping on qualifying offers.

Licensing Licensing, Countersigning & Surplus Lines Laws edPrice: $   FC&S Licensing, Countersigning & Surplus Lines Laws ed [Inhouse editors & writers] on *FREE* shipping on qualifying offers. FC&S Licensing, Countersigning & Surplus Lines Laws ed.

Read FC&S Licensing Countersigning & Surplus Lines Laws ed Ebook Free. Merit Hass. Read Licensing Surplus Lines Laws Ebook Free. KarieHanel. FAVORIT BOOK Georgia Real Estate Licensing and Appraiser Laws and Regulations Annotated, justiceday.

Good Intentions 2of3 Minimum Wage, Licensing, and Labor Laws with Walter. Each year, Locke Lord LLP publishes an Excess and Surplus Lines Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S. territories during the past year including a special section on the Non-Admitted and Reinsurance Reform Act and the steps surplus lines carriers and brokers should be taking now to ensure compliance.

Excess and Surplus Lines Laws in the United States Including Direct Procurement Tax Laws and Industrial Insured Exemptions John P. Dearie, Jr., Editor Excess and Surplus Lines Laws in the United States is a publication of LOCKE LORD LLP and should not be construed as legal advice or legal opinion on any specific facts or circumstances.

A temporary license is not offered for a surplus lines license. Emergency license. An emergency license is not offered for a surplus lines license. Provisional permit. A provisional permit is not offered for a surplus lines license.

Laws: Texas Insurance Code. Laws about the surplus lines license can be found in the Texas Insurance Code. To download a PDF of the Excess & Surplus Lines Law Manual. Contact Us.

If you are interested in receiving automatic annual updates to the manual and/or subscribing to receive periodic articles related to the insurance industry please CLICK HERE. Locke Lord LLP. All of the references to the Producer Licensing Working Group and Task Force will show that both have changed parent committees since the creation of the State Licensing Handbook.

The change in parent committees has not changed the role for the Working Gr\. Olympic Boulevard, SuiteErlanger, KY / Search surplus lines laws for the State of Florida. Surplus Lines Agent Licensing The surplus lines market carries more risk than purchasing insurance in the admitted market; therefore the states imposed a second level of licensing.

A resident insurance producer must have their property and casualty insurance license before seeking licensure as a surplus lines. Licensing Information. Surplus Lines FAQ's. Applicable Forms Individual Surplus Line Broker.

Apply for an insurance license online - Go to Sircon's Apply for a License for both resident and non-resident applicants to apply online for an insurance license. This link takes the applicant to the procedures of how to file an application online.

Electronic Agency Affilliations - add/remove producers from agency license, add/remove the Designated Responsible License Producer (DRLP), or add/remove surplus lines producers from agency surplus lines license. Users Guide. Electronic Filing - information on what applications, changes that may be made on-line.

Renewal Fees and Late Fees. Licensing & Surplus Lines Laws reviews the licensing and surplus lines laws for the fifty states, the District of Columbia and territories and valuable resource includes a summary of licensing requirements for resident and nonresident insurance professionals, continuing education, cancellation of appointments, risk retention and purchasing groups, and commissions and fees.

Submit initial license for individuals electronically. Submit major lines of authority. Submit limited lines of authority. Submit surplus lines for individuals.

Add a line of authority (amend) to an existing active license. Reinstate/reapply through NIPR's Non-Resident License.

As the sole regulated entity in a surplus lines placement, the surplus lines broker must hold a surplus lines license. Every state, as a part of its surplus lines law, requires the issuance of a surplus lines broker license.

Fifteen states have created surplus lines stamping offices. More than two-thirds of the national surplus lines premium. As a producer, keeping abreast of the surplus lines laws and regulations in your own state is often a difficult task.

When one wanders across state borders, the challenge becomes even more. The Surplus Line Association of Illinois (SLAI) is an organization of approximately surplus line insurance producers. Surplus line producers are agents and brokers who hold a special license from the Illinois Department of Insurance allowing them, under certain conditions, to procure policies for Illinois risks from insurers that are not licensed in this state.

The surplus lines statutes are paragraphs - and may be accessed at Oregon Surplus Lines Law. The principal requirements of the surplus lines producer for writing surplus lines in Oregon are: The producer must hold a current Oregon license authorizing placement of surplus lines business.

Surplus Lines Laws, Regulations and Memorandums Nonadmitted Insurance Reporting and Tax Payment Requirements Memorandum, May 1, Nonadmitted Insurance W.S.§§et. seq.“In sum, no purpose is served by denying to Florida-licensed agents who live outside Florida the same rights and privileges afforded to Florida-licensed agents who reside within the state.

The discrimination against nonresident agents is unconstitutional,” wrote Hinkle in his ruling on the countersignature law and the surplus lines license ban. Surplus lines brokers and producers must be licensed to sell surplus lines insurance.

Moreover, state insurance departments may suspend, revoke, or non-renew the license of a surplus lines broker or producer for various reasons, such as: Failure to file required reports.

Failure to collect or remit required tax on surplus lines premiums.