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CHAPTER 26.1-44 SURPLUS LINES INSURANCE 26.1-44-01. Surplus lines insurance valid. Insurance contracts procured as surplus lines coverage from nonadmitted insurers in accordance with this chapter
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1-44 surplus lines insurance is coverage for risks that are not covered by standard insurance policies and are placed with non-admitted insurers.
Insurance producers or brokers who place coverage with non-admitted insurers are required to file 1-44 surplus lines insurance.
To fill out 1-44 surplus lines insurance, detailed information about the insured risk, coverage details, and premium amounts must be provided on the form.
The purpose of 1-44 surplus lines insurance is to provide coverage for risks that are not readily available in the admitted market.
Information such as the insured name, policy details, premium amounts, and details of the non-admitted insurer must be reported on 1-44 surplus lines insurance.
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