11 NCAC 10 .0703 APPROVAL OF INSURANCE IN NON‑ADMITTED INSURANCE COMPANIES
Approval of insurance written by a non‑admitted insurance company will be granted only if the non‑admitted company:
(1) has established satisfactory evidence of good repute and financial integrity;
(2) meets the minimum capital and surplus requirements in the Insurance Law;
(3) furnishes to the Commissioner its most current financial statement; and
(4) appears on the department's monthly list of non‑admitted companies eligible for the placement of surplus lines business.
History Note: Authority G.S. 58-2-40; 58-21-20;
Eff. February 1, 1976;
Readopted Eff. July 11, 1978;
Amended Eff. January 1, 1989; July 1, 1986;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. January 3, 2017.