§ 124.7. Unique forms of coverages.

 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.

Authority

   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).

Source

   The provisions of this §  124.7 amended October 25, 2013, effective November 25, 2013, 43 Pa.B. 6345. Immediately preceding text appears at serial page (263784).



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