20-409. Recognized surplus lines
A. If after a hearing the director finds that a particular insurance coverage or type, class or kind of coverage is not readily procurable from authorized insurers, the director may by order declare such coverage or coverages to be recognized surplus lines until the director's further order.
B. The order is subject to modification by the director. The director shall modify any coverage if the director determines that the coverage is no longer entitled to recognition as surplus lines after a hearing held on the director's initiative or on the request of any insurance producer, surplus lines broker, broker, insurer, rating or advisory organization, or other person.
Section: Previous 20-402 20-403 20-404 20-405 20-406 20-407 20-408 20-409 20-410 20-411 20-411.01 20-411.02 20-412 20-413 20-414 NextLast modified: October 13, 2016