Domestic surplus lines insurers

  1. Law
  2. Arkansas Code
  3. Public Utilities and Regulated Industries
  4. Insurance
  5. Unauthorized Insurers and Surplus Lines
  6. Surplus Lines Insurance Law
  7. Domestic surplus lines insurers

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  1. (a) A domestic insurer possessing policyholder surplus of at least twenty million dollars ($20,000,000) may be:

    1. (1) Designated as a domestic surplus lines insurer with the written approval of the Insurance Commissioner; and

    2. (2) Allowed to write surplus lines insurance in any jurisdiction in which it is eligible.

  2. (b) A domestic surplus lines insurer is:

    1. (1) Deemed a nonadmitted surplus lines insurer in the State of Arkansas; and

    2. (2) Deemed a nonadmitted surplus lines insurer under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203.

  3. (c) A domestic surplus lines insurer is not subject to:

    1. (1) The Arkansas Property and Casualty Insurance Guaranty Act, § 23-90-101 et seq.; or

    2. (2) The Arkansas Life and Health Insurance Guaranty Association Act, § 23-96-101 et seq.

  4. (d) A surplus lines broker that obtains surplus lines insurance from a domestic surplus lines insurer shall comply with § 23-65-315.

  5. (e) Unless specifically exempt, the insurance laws of this state regarding financial and solvency requirements apply to a domestic surplus lines insurer.


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