Each policy or other written evidence of insurance procured pursuant to this chapter shall be delivered promptly to the named insured shown on the policy's declarations page. No surplus lines broker shall issue or deliver any policy or other written evidence of insurance or represent that insurance will be or has been granted by an eligible nonadmitted insurer unless (i) he has prior written authority from such insurer for the insurance, (ii) he has received information from the insurer in the regular course of business that the insurance has been granted, or (iii) an insurance policy providing the insurance actually has been issued by the insurer and delivered to the named insured shown on the policy's declarations page.
Code 1950, § 38.1-314.10; 1960, c. 503; 1979, c. 513, § 38.1-327.55; 1984, c. 719; 1986, c. 562; 2011, c. 498; 2018, c. 205.
Structure Code of Virginia
Chapter 48 - Surplus Lines Insurance Law
§ 38.2-4805.1. Application of chapter
§ 38.2-4807. Licensees to keep records and file annual statement of policies
§ 38.2-4808. Effect of payment to surplus lines broker
§ 38.2-4809. Licensees to pay license taxes on insurers
§ 38.2-4809.1. Licensees to pay assessments on insurers
§ 38.2-4811. Surplus lines coverage to be placed with eligible nonadmitted insurers
§ 38.2-4811.1. Surplus lines coverage placed with domestic surplus lines insurers
§ 38.2-4812. Surplus lines insurers subject to Unlicensed Insurers Process
§ 38.2-4813. Commission to make rules and regulations