H0951: Domestic Surplus Lines Insurers

Legislative Summary

Authorizes nonadmitted insurers to transact insurance as domestic surplus lines insurers; requires such insurers to maintain minimum surplus amount; requires such insurers to be deemed eligible surplus lines insurers & to be included in list of eligible surplus lines insurers; authorizes such insurers to write only surplus lines insurance & only under specified circumstance; prohibits such insurers from holding certificate of authority to operate as admitted insurers; authorizes such insurers to write surplus lines insurance in any jurisdiction if specified requirements are met; provides such policies are subject to specified taxes but are not subject to certain other taxes.