SB 605 -- SURPLUS LINES INSURANCE

This bill increases the bonding amount required for insurance
brokers selling surplus lines insurance to be the lesser of
$100,000 or an amount equal to the broker's tax liability for
the previous tax year.  Currently, a bond of $10,000 is
required.  The bill also grants nonresident licensees of surplus
lines insurance the same authority as resident licensees.
Currently, the licensing of nonresidents is within the
discretion of the Department of Insurance.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:48 am