(a) Each surplus lines agent shall keep in the agent’s office in this state a full and true record of each surplus lines contract procured by the agent for or on behalf of an insured whose home state is the state of Tennessee, including a copy of the daily report, if any, and showing such of the following items as may be applicable:

lawyer at desk

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Tennessee Code 56-14-116

  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-14-102
  • Contract: A legal written agreement that becomes binding when signed.
  • home state: means the home state, as determined pursuant to subdivision (9)(A), of the member of the affiliated group that has the largest percentage of premium attributed to it under such insurance contract. See Tennessee Code 56-14-102
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
  • State: includes any state in the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa. See Tennessee Code 56-14-102
  • Surplus lines agent: means an agent who is licensed under chapter 6, part 1 of this title who is granted a surplus lines license in accordance with this chapter. See Tennessee Code 56-14-102
(1) Amount of the insurance and perils insured against;
(2) Brief general description of property insured and where located;
(3) Gross premium charged;
(4) Return premium paid, if any;
(5) Rate of premium charged upon the several items of property;
(6) Effective date of the contract and its terms;
(7) Name and post office address of the insured;
(8) Name and home office address of the insurer;
(9) Amount collected from the insured; and
(10) Other information as required by the commissioner.
(b) The record shall at all times be open to examination by the commissioner without notice, and shall be kept available and open to the commissioner for three (3) years next following expiration or cancellation of the contract.
  Previous section
Next section  
 Part 1 Contents