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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Mississippi Code Title 83. Insurance § 83-21-23 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-83-insurance/ms-code-sect-83-21-23/
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