West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-20 - Surplus Lines Insurance
Section 114-20-1 - General

Universal Citation: 114 WV Code of State Rules 114-20-1

Current through Register Vol. XLI, No. 38, September 20, 2024

1.1. Scope. -- This legislative rule establishes certain requirements for the licensing and regulation of surplus lines licensees, regulates access to the surplus lines market, prescribes procedures for the placement of insurance with surplus lines insurers and provides for the collection and allocation of premium taxes. This rule is largely based on the National Association of Insurance Commissioners' (NAIC) "Nonadmitted Insurance Model Act (Model 870)", as amended in 2002, and on the NRRA to the extent it has been incorporated in W. Va. Code § 33-12C-1et seq.

1.2. Authority. -- W. Va. Code § 33-2-10.

1.3. Filing Date. -- April 20, 2012.

1.4. Effective Date. -- April 20, 2012.

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