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  • Filing Requirements And Checklist For Alien (non U.s.) Surplus Lines Insurers. Filing Requirements

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That are NOT included on the current NAIC IID Quarterly Listing of Alien Insurers. Only grandfathered alien companies must file this form in accord with Texas Senate Bill 951 enacted in the 83rd Legislative Session, effective June 14, 2013. All evidence filings must include the full name of the insurer 1) An Annual Report and/or Audited Financial Statement expressed in U.S. Dollars, including auditor's most recent "Management Letter" and management's response. 2) A Certified Copy of the Curr.

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P&C: Statutory minimum paid-in capital is between $1 to $2.6 million and minimum surplus is between $1 to $2.8 million. (§ 700.01-700.05). Life & disability: Both statutory minimum paid-in capital & statutory minimum surplus are $2.5 million. (§ 10510, 10511, 10512 and 700.02 and 700.05.).

Businesses buy the most surplus lines policies, usually to cover unique risks. For instance, they might need liability coverage for a special event or to move hazardous materials. Some people buy surplus lines policies if they can't get homeowners insurance from a standard company.

Every surplus line broker must make an annual state tax filing. The amount of state tax is 3% of the California taxable surplus line premium transacted by the broker, for California home state insureds, from January 1st to December 31st of the previous year.

What are examples of typical properties insured by Surplus Lines? Examples include multi-dwelling units such as condos or townhouses, mobile homes, expensive cars or boats, costly art collections, or extremely old or dangerously exposed homes.

SURPLUS LINES TAXES Most states charge an insurance premium tax to insurance companies licensed and “admitted” to do business within their borders. Generally speaking, those carriers then pass the cost of those taxes onto their policyholders by adding a comparable amount to their premiums.

The guidelines recommended a uniform law in each state that recognized and regulated surplus lines insurers and made suggestions for paying taxes. Today, surplus lines insurers are regulated through the NAIC Non-Admitted Insurance Model Act #870.

Surplus lines insurance is specialized coverage written by unlicensed, nonadmitted insurance companies to cover specific extraordinary items and uncommon or high risks that are generally not covered by traditional insurance companies under standard policies.

Diligent search refers to the requirement that prior to placing a risk with the surplus lines market, it can be demonstrated that an effort was made The vast majority of the states require a “diligent search” of the admitted market to determine if there is an admitted carrier willing to write the risk, and many of ...

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232