West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-20 - Surplus Lines Insurance
Section 114-20-4A - Exempt Commercial Purchasers
Universal Citation: 114 WV Code of State Rules 114-20-4A
Current through Register Vol. XLI, No. 38, September 20, 2024
4A.1. A licensee is not required to perform a diligent search in accordance with section 4 of this rule when seeking to procure or place nonadmitted insurance for an exempt commercial purchaser whose home state is West Virginia if the prospective purchaser has signed a document prior to the placement of such insurance that provides that the licensee has disclosed that such insurance may or may not be available from an admitted insurer that might provide greater protection and more regulatory oversight and that the purchaser has nonetheless requested that the licensee procure or place with a nonadmitted carrier.
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