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SURPLUS LINES REPORT OF PLACEMENT NORTH DAKOTA INSURANCE DEPARTMENT SON 59883 (6-2015) This form must be filed with the North Dakota Insurance Department by the licensed surplus lines producer within
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How to fill out surplus lines report of
How to fill out a surplus lines report:
01
Begin by gathering all necessary information, including the insured's name, policy number, and policy effective date.
02
Identify the specific risks covered by the surplus lines policy and provide a detailed description of each risk. This may include information such as the type of property insured, location, value, and any unique characteristics.
03
Calculate the premium for each risk and document it accurately on the surplus lines report.
04
Determine the applicable taxes and fees for each risk and include them in the report.
05
Summarize all risks, premiums, taxes, and fees to calculate the total surplus lines premium due. Make sure to double-check your calculations for accuracy.
06
Complete any additional required information, such as the producing broker's information and the insured's signatures.
07
Submit the surplus lines report to the appropriate regulatory authority within the specified timeframe.
Who needs a surplus lines report:
01
Insurance agents or brokers involved in selling surplus lines insurance policies.
02
Surplus lines insurance companies and underwriters.
03
State regulatory authorities responsible for overseeing surplus lines insurance transactions.
04
Insured individuals or businesses who have purchased surplus lines insurance coverage.
Note: The specific requirements for a surplus lines report may vary depending on the state and jurisdiction. It is essential to understand and comply with the regulations of the particular jurisdiction in which you are operating.
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What is surplus lines report of?
The surplus lines report is a report that provides information on insurance policies that are placed in the surplus lines market.
Who is required to file surplus lines report of?
Insurance companies or agents who engage in surplus lines transactions are required to file surplus lines report.
How to fill out surplus lines report of?
Surplus lines report can be filled out online or manually by providing details of surplus lines transactions.
What is the purpose of surplus lines report of?
The purpose of surplus lines report is to monitor surplus lines transactions and ensure regulatory compliance.
What information must be reported on surplus lines report of?
Information such as policy details, premium amounts, insured parties, and transactions must be reported on surplus lines report.
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