§ 4807 -   Surplus lines insurance broker

§ 4807. Surplus lines insurance broker

(a) Every surplus lines insurance broker who solicits an application for insurance of any kind, in any controversy between the insured or his or her beneficiary and the insurer issuing any policy upon such application, shall be regarded as representing the insured and his or her beneficiary and not the insurer; except any insurer which directly or through its agents delivers in this state to any surplus lines insurance broker a policy or contract for insurance pursuant to the application or request of the surplus lines insurance broker, acting for an insured other than himself or herself, shall be deemed to have authorized the surplus lines insurance broker to receive on its behalf payment of any premium which is due on the policy or contract for insurance at the time of its issuance or delivery.

(b) Each applicant for a surplus lines insurance broker's license must have had not less than one year's experience as an insurance producer or in comparable employment for an insurer, agency or brokerage firm during the three years immediately preceding the date of application or such other experience as the commissioner may deem comparable. The license application must be accompanied by an affidavit that the applicant was so engaged in the required responsible insurance duties.

(c) Notwithstanding any other provision of this title, a person licensed as a surplus lines insurance broker in his or her home state shall receive a nonresident surplus lines insurance broker license pursuant to section 4800 of this chapter. (Added 1973, No. 217 (Adj. Sess.), § 17; amended 1981, No. 210 (Adj. Sess.), § 2; 2001, No. 97 (Adj. Sess.), § 14.)