Insurance; Unauthorized Insurers and Surplus Lines Insurance Act; surplus lines insurer; brokers; producers; agents; repealer; effective date.

Summary

The bill revises the Unauthorized Insurers and Surplus Lines Insurance Act by redefining key terms, requiring surplus lines coverage to be placed only through licensed surplus lines brokers in the insured’s home state, and expanding the act’s reach to all non‑admitted insurers. It adds new record‑keeping, notice, and penalty provisions while removing certain tax and exemption rules. The changes aim to improve consumer protection and regulatory clarity for surplus lines transactions.

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