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
Current through Register Vol. 38, No. 18, March 15, 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.