§431:8-305  Evidence of insurance; changes;
penalties.  (a)  Upon placing surplus lines insurance, the surplus lines
broker shall as soon as reasonably possible deliver to the insured the policy,
or if the policy is not available, the surplus lines broker's certificate,
cover note, binder or other evidence of insurance.  Any confirmation of
insurance shall be executed by the surplus lines broker and shall show the
following:



(1)  The description and location of the subject of
the insurance,



(2)  A general description of the coverages, including
any material limitations other than those in standard forms,



(3)  The premium and rate charged,



(4)  The taxes to be collected from the insured,



(5)  The name and address of the insured,



(6)  The name and address of the insurer,



(7)  If the direct risk is assumed by more than one
insurer, the certificate shall state the name and address and proportion of the
entire direct risk assumed by each insurer, and



(8)  The name of the surplus lines broker and such
broker's license number.



(b)  No surplus lines broker shall issue or
deliver any evidence of insurance or purport to insure, or represent that
insurance has or will be written by any unauthorized insurer, unless the broker
has authority from the insurer to cause the risk to be insured, or has received
information from the insurer in the regular course of business that such
insurance has been granted.



(c)  If after delivery of the evidence of
insurance there is any change in the identity of the insurers, or the proportion
of the risk assumed by any insurer, or any other material change in coverage as
stated in the original evidence of insurance, the surplus lines broker shall as
soon as reasonably possible issue and deliver to the insured a substitute for,
or endorsement of the original document, accurately showing the current status
of the coverage and the insurer's responsibility thereunder.



(d)  As soon as reasonably possible after the
placement of any such insurance, the surplus lines broker shall procure from
the insurer its policy or, if not available, a certificate of insurance and
deliver it to the insured to replace any evidence of insurance initially issued
to the insured.



(e)  Any surplus lines broker who fails to
comply with the requirements of this section shall be subject to the penalties
provided in section 431:8-320. [L 1987, c 347, pt of §2]