31 Pa. Code § 124.7 - Unique forms of coverages

Under section 1604(2)(iii) of the act (40 P. S. § 991.1604(2)(iii)), surplus lines insurance may be procured through a surplus lines licensee from nonadmitted insurers if the kind of insurance sought to be obtained from admitted insurers requires a unique form of coverage not available in the admitted market. Within 45 calendar days after a unique form of coverage has been placed, the surplus lines licensee shall file with the Department or its designee, a written declaration reporting the transaction on a form prescribed by the Department.

Notes

31 Pa. Code § 124.7

The provisions of this § 124.7 amended October 25, 2013, effective 11/25/2013, 43 Pa.B. 6345.

The provisions of this § 124.7 amended under sections 206, 506, 1501 and 1502 of The Administrative Code of 1929 (71 P. S. §§ 66, 186, 411 and 412); and Article XVI of The Insurance Company Law of 1921 (40 P. S. §§ 991.1601-991.1626).