Montana Title 33. Insurance and Insurance Companies § 33-2-302. Home state exclusive authority--conditions precedent to sale of surplus lines insurance

(i) the insurer is an eligible surplus lines insurer;

(ii) the line of insurance or the full amount of the line of insurance cannot be obtained from authorized insurers or, in the case of a renewal, the line of insurance has not become available from an authorized insurer, as evidenced by one of the following:

(iii) all other requirements of this part are met.

(i) the premium rate quoted by an authorized insurer is at least 10% higher than the premium rate quoted by an unauthorized insurer;

(ii) the unauthorized insurer is eligible under 33-2-307; and

(iii) the unauthorized insurer or the surplus lines insurance producer that placed the contract of insurance with the unauthorized insurer has provided the insured with disclosure information in a form and content approved by the commissioner.

(i) the insured is an exempt commercial purchaser;

(ii) the producing insurance producer placing the coverage has disclosed to the exempt commercial purchaser that the insurance may or may not be available from an authorized insurer that may provide greater protection with more regulatory oversight; and

(iii) the exempt commercial purchaser has subsequently requested in writing to the producing insurance producer that the coverage be placed with the surplus lines insurer.