(1) If an unauthorized insurer or a person authorized by it has bound the risk as to a surplus lines coverage placed under this Surplus Lines Law, and if the premium therefor has been received by the surplus lines agent or originating agent who placed such insurance, then in all questions thereafter arising under the coverage as between the insurer and the insured, the insurer shall be deemed to have received the premium due to it for such coverage; and the insurer shall be liable to the insured as to losses covered by such insurance, and for unearned premiums which may become payable to the insured upon cancellation of such insurance, whether or not in fact the surplus lines agent is indebted to the insurer with respect to such insurance or for any other cause.
(2) Each unauthorized insurer assuming a surplus lines direct risk under this Surplus Lines Law shall be deemed thereby to have subjected itself to the terms of this section.
History.—s. 365, ch. 59-205; s. 2, ch. 81-318; ss. 306, 318, 807, ch. 82-243; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429.
Structure Florida Statutes
Chapter 626 - Insurance Field Representatives and Operations
Part VIII - Unauthorized Insurers and Surplus Lines (Ss. 626.901-626.939)
626.901 - Representing or aiding unauthorized insurer prohibited.
626.902 - Penalty for representing unauthorized insurer.
626.903 - Suits by unauthorized insurers prohibited.
626.904 - Unauthorized Insurers Process Law; short title; interpretation.
626.905 - Purpose of Unauthorized Insurers Process Law.
626.906 - Acts constituting Chief Financial Officer as process agent.
626.907 - Service of process; judgment by default.
626.909 - Jurisdiction of office and department; service of process on Secretary of State.
626.912 - Exemptions from ss. 626.904-626.911.
626.913 - Surplus Lines Law; short title; purposes.
626.915 - Surplus lines insurance authorized.
626.916 - Eligibility for export.
626.917 - Eligibility for export; wet marine and transportation, aviation risks.
626.918 - Eligible surplus lines insurers.
626.919 - Withdrawal of eligibility; surplus lines insurer.
626.9201 - Notice of cancellation or nonrenewal.
626.9202 - Loss run statements for all lines of insurance.
626.921 - Florida Surplus Lines Service Office.
626.922 - Evidence of the insurance; changes; penalty.
626.923 - Filing copy of policy or certificate.
626.924 - Information required on contract.
626.925 - Surplus lines insurance valid.
626.926 - Liability of insurer as to losses and unearned premiums.
626.927 - Licensing of surplus lines agent.
626.9271 - Temporary license; death, disability, absence of surplus lines agent.
626.9272 - Licensing of nonresident surplus lines agents.
626.929 - Origination, acceptance, placement of surplus lines business.
626.9295 - Corporations, liability of agent.
626.930 - Records of surplus lines agent.
626.931 - Agent affidavit and insurer reporting requirements.
626.933 - Collection of tax and service fee.
626.934 - Accounting for funds; contingent commissions.
626.935 - Suspension, revocation, or refusal of surplus lines agent’s license.
626.936 - Failure to file reports or pay tax or service fee; administrative penalty.
626.9361 - Failure to file report; administrative penalty.
626.937 - Actions against insurer; service of process.
626.9371 - Payment of premiums and claims.
626.9372 - Disclosure statement of certain information required; liability claims.
626.9374 - Liability of insureds; deductible and coinsurance.
626.938 - Report and tax of independently procured coverages.