§431:8-305  Evidence of insurance; changes;penalties.  (a)  Upon placing surplus lines insurance, the surplus linesbroker 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 ofinsurance shall be executed by the surplus lines broker and shall show thefollowing:

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

(2)  A general description of the coverages, includingany 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 oneinsurer, the certificate shall state the name and address and proportion of theentire direct risk assumed by each insurer, and

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

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

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

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

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