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At the time of presenting a quotation to the insured, the surplus lines licensee shall present to the insured or to the writing producer written notice that the insurance or a portion thereof involves placement with nonadmitted insurers. The surplus lines licensee shall, either directly or through the writing producer, give notice to the insured that:
(1) the insurer with which the licensee places the insurance is not licensed by the department and is subject to its limited regulation; and
(2) in the event of the insolvency of an eligible surplus lines insurer, losses will not be paid by the Pennsylvania Property and Casualty Insurance Guaranty Association.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 991.1608. Surplus lines licensee's duty to notify insured - last updated January 01, 2019 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-991-1608.html
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