§ 1764.2. — 1764.2. (Amended by Stats. 2011, Ch. 83, Sec. 18.)

California § 1764.2.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 1.: DIVISION 1. GENERAL RULES GOVERNING INSURANCE
• Part 2.: PART 2. THE BUSINESS OF INSURANCE
• Ch. 6.: CHAPTER 6. Surplus Line Brokers

Text

No surplus line broker shall issue any evidence of insurance or cause or purport to cause any risk to be insured by a nonadmitted insurer or advise any home state insured or home state insured applicant for insurance that coverage has been or will be obtained from a nonadmitted insurer unless:
(a)
The broker has prior written authority from the nonadmitted insurer to cause the risk to be insured;
(b)
The broker has received advice in the ordinary course of business that the coverage has been obtained; or
(c)
A policy of insurance covering the insured for the risk has actually
been issued by the nonadmitted insurer and delivered to the insured or his or her representative.

Legislative History

Amended by Stats. 2011, Ch. 83, Sec. 18. (AB 315) Effective July 15, 2011. Operative July 21, 2011, by Sec. 34 of Stats. 2011, Ch. 83.