North Carolina Administrative Code
Title 11 - INSURANCE
Chapter 10 - PROPERTY AND CASUALTY DIVISION
Section .0700 - INSURANCE IN UNLICENSED FOREIGN AND ALIEN COMPANIES
Section 10 .0703 - APPROVAL OF INSURANCE IN NON-ADMITTED INSURANCE COMPANIES

Universal Citation: 11 NC Admin Code 10 .0703

Current through Register Vol. 39, No. 6, September 16, 2024

Approval of insurance written by a non-admitted insurance company will be granted only if the non-admitted company:

(1) has established satisfactory evidence of good repute and financial integrity;

(2) meets the minimum capital and surplus requirements in the Insurance Law;

(3) furnishes to the Commissioner its most current financial statement; and

(4) appears on the department's monthly list of non-admitted companies eligible for the placement of surplus lines business.

Authority G.S. 58-2-40; 58-21-20;
Eff. February 1, 1976;
Readopted Eff. July 11, 1978;
Amended Eff. January 1, 1989; July 1, 1986;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. January 3, 2017.

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