1998 Minnesota Statutes

     60A.202 Evidence of placement of insurance by licensee. 

    Subdivision 1.    Restriction.  Only a surplus lines 
 licensee shall issue evidence of placement of insurance with an 
 eligible or ineligible surplus lines insurer.  

    Subd. 2.    Written communication of coverage to be 
 delivered.  A licensee shall, within seven working days after 
 the date on which the risk was bound or the insured or applicant 
 was advised that coverage has been or will be obtained, deliver 
 to the insured or the insured's representative a policy, a 
 written binder, a certificate or other written evidence of 
 insurance placed with an eligible or ineligible surplus lines 
 insurer.  

    Subd. 3.    Contents of written communication.  The 
 written communication showing that insurance has been obtained 
 shall identify all known surplus lines insurers directly 
 assuming any risk of loss.  If there is more than one surplus 
 lines insurer, any document issued or certified by the licensee 
 pursuant to subdivision 2 shall specify, to the extent known by 
 the licensee, whether the obligation is joint or several, and if 
 the obligation is several, the proportion of the obligation 
 assumed by each insurer.  

    HIST: 1981 c 221 s 7