RCW 48.15.160
Exemptions from surplus line requirements.
(Effective until July 1, 2009.)
(1) The provisions of this
chapter controlling the placing of insurance with unauthorized
insurers shall not apply to reinsurance or to the following
insurances when so placed by licensed agents or brokers of this
state:
(a) Ocean marine and foreign trade insurances.
(b) Insurance on subjects located, resident, or to be
performed wholly outside of this state, or on vehicles or
aircraft owned and principally garaged outside this state.
(c) Insurance on operations of railroads engaged in
transportation in interstate commerce and their property used in
such operations.
(d) Insurance of aircraft owned or operated by manufacturers
of aircraft, or of aircraft operated in schedule interstate
flight, or cargo of such aircraft, or against liability, other
than workers' compensation and employer's liability, arising out
of the ownership, maintenance or use of such aircraft.
(2) Agents and brokers so placing any such insurance with an
unauthorized insurer shall keep a full and true record of each
such coverage in detail as required of surplus line insurance
under this chapter and shall meet the requirements imposed upon a
surplus line broker pursuant to RCW 48.15.090 and any regulations
adopted thereunder. The record shall be preserved for not less
than five years from the effective date of the insurance and
shall be kept available in this state and open to the examination
of the commissioner. The agent or broker shall furnish to the
commissioner at the commissioner's request and on forms as
designated and furnished by him or her a report of all such
coverages so placed in a designated calendar year.
[1987 c 185 § 23; 1985 c 264 § 5; 1949 c 190 § 22; 1947 c 79 § .15.16; Rem. Supp. 1949 § 45.15.16.]
NOTES:
Intent -- Severability -- 1987 c 185: See notes following RCW 51.12.130.
RCW 48.15.160
Exemptions from surplus line requirements.
(Effective July 1, 2009.)
(1) The provisions of this chapter
controlling the placing of insurance with unauthorized insurers
shall not apply to reinsurance or to the following insurances
when so placed by licensed insurance producers of this state:
(a) Ocean marine and foreign trade insurances.
(b) Insurance on subjects located, resident, or to be
performed wholly outside of this state, or on vehicles or
aircraft owned and principally garaged outside this state.
(c) Insurance on operations of railroads engaged in
transportation in interstate commerce and their property used in
such operations.
(d) Insurance of aircraft owned or operated by manufacturers
of aircraft, or of aircraft operated in schedule interstate
flight, or cargo of such aircraft, or against liability, other
than workers' compensation and employer's liability, arising out
of the ownership, maintenance or use of such aircraft.
(2) Insurance producers so placing any such insurance with
an unauthorized insurer shall keep a full and true record of each
such coverage in detail as required of surplus line insurance
under this chapter and shall meet the requirements imposed upon a
surplus line broker pursuant to RCW 48.15.090 and any regulations
adopted thereunder. The record shall be preserved for not less
than five years from the effective date of the insurance and
shall be kept available in this state and open to the examination
of the commissioner. The insurance producer shall furnish to the
commissioner at the commissioner's request and on forms as
designated and furnished by him or her a report of all such
coverages so placed in a designated calendar year.
[2008 c 217 § 11; 1987 c 185 § 23; 1985 c 264 § 5; 1949 c 190 § 22; 1947 c 79 § .15.16; Rem. Supp. 1949 § 45.15.16.]
NOTES:
Severability -- Effective date -- 2008 c 217: See notes following RCW 48.03.020.
Intent -- Severability -- 1987 c 185: See notes following RCW 51.12.130.