Pennsylvania Code
Title 31 - INSURANCE
Part VIII - Miscellaneous Provisions
Chapter 124 - SURPLUS LINES INSURANCE
Section 124.7 - Unique forms of coverages

Universal Citation: 31 PA Code ยง 124.7
Current through Register Vol. 54, No. 12, March 23, 2024

Under section 1604(2)(iii) of the act (40 P. S. § 991.1604(2)(iii)), surplus lines insurance may be procured through a surplus lines licensee from nonadmitted insurers if the kind of insurance sought to be obtained from admitted insurers requires a unique form of coverage not available in the admitted market. Within 45 calendar days after a unique form of coverage has been placed, the surplus lines licensee shall file with the Department or its designee, a written declaration reporting the transaction on a form prescribed by the Department.

The provisions of this § 124.7 amended under sections 206, 506, 1501 and 1502 of The Administrative Code of 1929 (71 P. S. §§ 66, 186, 411 and 412); and Article XVI of The Insurance Company Law of 1921 (40 P. S. §§ 991.1601-991.1626).

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