§ 26.1-44-02 — Duty to file evidence of insurance

1. Each surplus lines producer, after the placing of any surplus lines insurance if the
insured's home state is this state, shall execute and file a report of placement, no later
than March first for the quarter ending the preceding December thirty-first, June first
for the quarter ending the preceding March thirty-first, September first for the quarter
ending the preceding June thirtieth, and December first for the quarter ending the
preceding September thirtieth of each year, regarding the insurance which must be
kept confidential by the commissioner. The report of placement must include:
a. The name and address of the insured;
b. The identity of the insurer or insurers;
c. The amount of premium charged for the insurance;
d. The amount of premium tax; and
e. Any other pertinent information as the commissioner may reasonably require.
2. A surplus lines producer seeking to place nonadmitted insurance for an exempt
commercial purchaser is not required to make a due diligence search if the surplus
lines producer has disclosed to the exempt commercial purchaser that such insurance
may or may not be available from the admitted market that may provide greater
protection with more regulatory oversight and the exempt commercial purchaser has
subsequently requested in writing the surplus lines producer to procure or place such
insurance from a nonadmitted insurer.