20-414. Records of surplus lines brokers
126 words·~1 min read·
/az/title-20/20-414A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each surplus lines broker shall keep in the broker's principal place of business a full and true record of each surplus lines contract procured by the broker under the license issued pursuant to this article. The director may examine the record at any time within three years after the expiration or cancellation date of the insurance policy. The record shall include the following items as applicable:
1. Name and address of the insurer.
2. Name and address of the insured.
3. Amount of insurance.
4. Gross premium charged.
5. Return premium paid, if any.
6. Rate of premium charged on the several items of coverage.
7. Effective date and terms of the contract.
8. Brief general description of the risks insured against and the property insured.