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Excess and surplus lines
Placement with unauthorized insurer
I was competing with another broker for a commercial risk. My quote was with an authorized insurer. The other broker quoted a lower premium from an unauthorized insurer. Is it lawful for the applicant to take the lower quote?
Change in coverage by nonadmitted carrier
In Connecticut when a carrier is going to substantially change the terms of coverage (e.g., adding an exclusion), to my knowledge, they are required to provide 60 days’ notice to the insured by statute. Does this apply to a nonadmitted carrier?
Domestic surplus-lines insurers
Can a domestic insurer place insurance through a surplus-lines broker? I didn’t think this was allowed.
Surplus lines—proper declinations
An insured came to me with a difficult-to-place risk and I’m considering the E&S market. To place it, I need to get three declinations. For example, I know that I have two companies that simply don’t handle that business, and another company that explains this refusal in their underwriting guidelines. This is sufficient, correct? I don’t need an actual declination?
Massachusetts surplus-lines fees
What is the law on the maximum surplus-lines fee that can be charged in Massachusetts?
Declinations due to deficient coverage
Can I consider an authorized insurer’s failure to provide all aspects of the coverage requested by the applicant to be a declination, or does the applicant have to settle for inferior coverage?