20-420. Exemptions from surplus lines
provisions
A. The sections of this article relating to surplus lines coverages do not apply to
reinsurance or to the following classes of insurance placed by licensed insurance
producers of this state:
1. Ocean marine and foreign trade insurance.
2. Insurance on subjects located, resident or to be performed wholly outside this
state, or on vehicles or aircraft owned and principally garaged outside this state.
3. Insurance on property or operations of railroads engaged in interstate commerce.
B. Any insurance producer that places any of the classes of insurance prescribed
in subsection A of this section with an unauthorized insurer shall keep a record of each
coverage in detail as required of surplus lines insurance pursuant to section
20-414. The insurance producer shall preserve the record for not less than three years
after the expiration or cancellation date of the insurance policy and shall make the
record available in this state and open to the examination of the director.
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