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§ 83-21-23. Surplus lines insurance producer required to execute and retain form setting forth certain facts; promulgation of rules and regulations and establishment of fees; exemption of certain surplus lines insurance producers from requirement to make due diligence search to determine availability of full amount or type of insurance from admitted insurers under certain circumstances

MS Code § 83-21-23 (2019) (N/A)
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(1) When any policy of personal lines insurance is procured under the authority of such license, the surplus lines insurance producer shall furnish to the insured at the time of policy deliverance an informational notice as promulgated by the commissioner. The informational notice shall address the following:

(a) The insurance procured may or may not be available from the admitted market that may provide greater protection with more regulatory oversight;

(b) In the event of an insolvency of the surplus lines insurer, losses shall not be paid by the Mississippi Insurance Guaranty Association;

(c) The coverage has been procured through a duly licensed nonadmitted insurance producer; and

(d) Any other information the commissioner believes should be disclosed to the insured.

(2) The Commissioner of Insurance may promulgate rules and regulations and establish appropriate fees for the implementation of Sections 83-21-17 through 83-21-31.

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§ 83-21-21. Surplus lines policies
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§ 83-21-25. Report of surplus lines insurance producer; “gross premiums”; designation of procuring surplus lines insurance producer to make report and payment; exemption from payment of surplus line premium tax on certain property risk