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DISCLOSURE REGARDING SURPLUS LINES INSURANCE.
Please, Read the Following Carefully Before Purchasing Insurance From a Surplus
Lines Insurer.
This policy is issued by a surplus lines insurer that has
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How to fill out disclosure regarding surplus lines
How to fill out disclosure regarding surplus lines
01
Start by obtaining the appropriate disclosure form for surplus lines.
02
Review the form carefully to understand the information required.
03
Provide the necessary details, such as the name of the insured party, policy number, and effective date of the surplus lines policy.
04
Clearly state the reason the coverage is being obtained through the surplus lines market.
05
Include any additional information or declarations as required by the form.
06
Sign and date the disclosure form.
07
Keep a copy of the completed form for your records.
Who needs disclosure regarding surplus lines?
01
Insurance agents or brokers who are involved in arranging surplus lines insurance coverage.
02
Insured parties who are obtaining coverage through the surplus lines market.
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What is disclosure regarding surplus lines?
Disclosure regarding surplus lines refers to the requirement for insurance brokers to provide information to state insurance authorities about the placement of insurance with non-admitted insurers.
Who is required to file disclosure regarding surplus lines?
Insurance brokers are required to file disclosure regarding surplus lines.
How to fill out disclosure regarding surplus lines?
Disclosure regarding surplus lines can typically be filled out electronically through the state's designated filing system.
What is the purpose of disclosure regarding surplus lines?
The purpose of disclosure regarding surplus lines is to ensure transparency and oversight in the placement of insurance with non-admitted insurers.
What information must be reported on disclosure regarding surplus lines?
Information such as the name of the insured, the amount and type of coverage, the name of the non-admitted insurer, and the premium amount must be reported on disclosure regarding surplus lines.
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