Missouri Laws 384.045 – Licensees may originate or accept insurance from other licensees or ..
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Terms Used In Missouri Laws 384.045
- Surplus: funds over and above liabilities and capital of the company for the protection of policyholders. See Missouri Laws 384.015
- Surplus lines insurance: any insurance of risks resident, located or to be performed in this state, permitted to be placed through a surplus lines licensee with a nonadmitted insurer eligible to accept such insurance, other than reinsurance, and life and health insurance and annuities. See Missouri Laws 384.015
- Surplus lines licensee: a person licensed to place insurance on risks resident, located or to be performed in this state with nonadmitted insurers eligible to accept such insurance. See Missouri Laws 384.015
A surplus lines licensee may originate surplus lines insurance or accept such insurance from any other agent or broker duly licensed as to the kinds of insurance involved, and the surplus lines licensee may compensate such agent or broker therefor.