West Virginia Code 33-12C-26 – Coverage must be placed in solvent insurer
Current as of: 2023 | Check for updates
|
Other versions
No surplus lines licensee may knowingly place any coverage in an insolvent insurer.
Terms Used In West Virginia Code 33-12C-26
- Insurer: means any person, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyds insurer, insurance exchange syndicate, fraternal benefit society, and any other legal entity engaged in the business of making contracts of insurance under section two, article one of this chapter. See West Virginia Code 33-12C-3
- Surplus lines licensee: means an individual licensed under section five of this article to place insurance on properties, risks or exposures located or to be performed in this state with nonadmitted insurers eligible to accept such insurance. See West Virginia Code 33-12C-3