(a) If certain insurance coverages cannot be procured from authorized insurers, such coverages, hereinafter designated as “surplus lines,” may be procured from unauthorized insurers subject to the following conditions:
(1) the insurance must be procured through a licensed surplus line broker; and
(2) the insurance must not be procurable, after diligent effort has been made to do so from among a majority of the insurers authorized to transact that kind of insurance in this territory and placing the insurance in an unauthorized insurer must not be for the purpose of securing a lower premium rate than would be accepted by any authorized insurer.
(b) Within 30 days after the procuring of any surplus line insurance, the surplus line broker must execute and shall file with the Commissioner:
(1) a written report, which shall be kept confidential and which shall include the following:
(A) the name and address of the insured;
(B) the identity of the insurer or insurers;
(C) a description of the subject and location of the risk;
(D) the amount of premium charged for the insurance; and
(E) such other pertinent information as the Commissioner may reasonably require; and
(2) an affidavit setting forth the facts referred to in subsection (a), paragraph (2), of this section. Such affidavit shall be open to public inspection.