(a) Each surplus lines licensee shall keep in this state a full and true record of each surplus lines insurance contract placed by or through the licensee, including a copy of the policy, certificate, cover note or other evidence of insurance showing each of the following items applicable:
(1) Amount of the insurance, risks and perils insured;
(2) Brief description of the property insured and its location;
(3) Gross premium charged;
(4) Any return premium paid;
(5) Rate of premium charged upon the several items of property;
(6) Effective date and terms of the contract;
(7) Name and address of the insured;
(8) Name and address of the insurer;
(9) Amount of tax and other sums to be collected from the insured;
(10) Allocation of taxes by state as referred to in subsection (f) of this section; and
(11) Identity of the producing broker, any confirming correspondence from the insurer or its representative, and the application.
(b) The record of each contract shall be kept open at all reasonable times to examination by the commissioner without notice for a period not less than ten years following termination of the contract. In lieu of maintaining offices in this state, each nonresident surplus lines licensee shall make available to the commissioner any and all records that the commissioner deems necessary for examination.
Structure West Virginia Code
§33-12C-2. Purpose - Necessity for Regulation
§33-12C-4. Placement of Insurance Business
§33-12C-5. Surplus Lines Insurance
§33-12C-6. Withdrawal of Eligibility as a Surplus Lines Insurer
§33-12C-6a. Debris Removal Liens; Noncompliance; Penalties
§33-12C-8. Surplus Lines Licenses
§33-12C-9. Suspension, Revocation or Nonrenewal of Surplus Lines Licensee's License
§33-12C-10. Actions Against Eligible Surplus Lines Insurers Transacting Surplus Lines Business
§33-12C-11. Duty to File Evidence of Insurance and Affidavits
§33-12C-12. Evidence of the Insurance and Subsequent Changes to the Insurance
§33-12C-13. Licensee's Duty to Notify Insured
§33-12C-14. Effect of Payment to Surplus Lines Licensee
§33-12C-15. Surplus Lines Licensees May Accept Business From Other Producers
§33-12C-16. Records of Surplus Lines Licensee
§33-12C-17. Reports - Summary of Exported Business
§33-12C-20. Service of Process
§33-12C-21. Legal or Administrative Procedures
§33-12C-23. Suits by Nonadmitted Insurers
§33-12C-24. Countersignature Requirements
§33-12C-26. Coverage Must Be Placed in Solvent Insurer