WebHome State – The District of Columbia and any state or territory of the United States in which an insurance producer maintains his or her principal place of residence or principal place of business and is licensed to act as an insurance producer. Independent Adjuster – One who adjusts losses on behalf of companies but is not on their payroll. WebNov 19, 2024 · On November 18, 2024, the Surplus Lines Task Force held a virtual meeting in lieu of its meeting at the 2024 NAIC Fall National Meeting. ... the NRRA expressly defines "home state" as the state where the insured maintains its principal place of business, or where the majority of the taxable premium is located if 100% of the risk is ...
Nonadmitted & Reinsurance Reform Act (NRRA) - SLAI
WebExamples of Home state in a sentence. The placement of Surplus Lines Insurance shall be subject to the statutory and regulatory requirements solely of the insured’s Home State.. QBE UK Limited (registered in England number 01761561; Home State - United Kingdom. Additionally, as the sole provider of the newly awarded Specialty Plan, Home State now … WebA surplus lines document issued by a domestic surplus lines insurer must state in, in 11-point type, the following: This insurance contract is issued and delivered as surplus lines coverage under the Texas Insurance Code. last kiss wilson
What is a Home State and How is it Determined? InsCipher
WebSep 30, 2024 · General Information: Arkansas does maintain a list of eligible surplus lines insurers (see Other Comments section #1).; Arkansas does have a Surplus Lines Association.; Arkansas does not have an Export List.; Arkansas has an industrial insured exemption for captive insurers only (see Appendix C) but otherwise follows the NRRA … WebMay 1, 2024 · When the insured is a member of an unaffiliated group, the home state should be the state in which the group is domiciled. Risks located outside of the United States Surplus lines premium taxes should only … WebIt is recommended that you consult your legal advisers regarding application of state and federal laws and regulations to any particular situation. The Surplus Line Association of … hen party poundland