California Insurance Code

§ 1765.2

INS § 1765.2 Effective Jan 1, 2018Div. 1 · Part 2 · Ch. 6

Statute text

A surplus line broker may place any coverage with a California-approved nonadmitted insurer if the insurer is domiciled in the Republic of Mexico and the placement covers only liability arising out of the ownership, maintenance, or use of a motor vehicle, aircraft, or boat in the Republic of Mexico, or if, at the time of placement, the nonadmitted insurer meets the following requirements:

(a)(1) Has established its financial stability, reputation, and integrity, for the class of insurance the broker proposes to place, by satisfactory evidence submitted to the commissioner through a surplus line broker.

(2)Meets one of the following requirements with respect to its financial stability:

…

Legislative history

Amended by Stats. 2017, Ch. 534, Sec. 47. (AB 1699) Effective January 1, 2018.