State of california 2016 extension form code#

Nonadmitted insurers on the LASLI must demonstrate to the State of California their financial stability, reputation and integrity, as well as adhering to specific capitalization, investment and solvency standards established under the California Insurance Code Section 1765.2. Both foreign and alien nonadmitted insurers may be included on the LASLI provided the insurers satisfy the standards set forth in California Insurance Code Section 1765.2.

This is an optional listing and insurers need not be on the LASLI to be used for surplus line placements. In California, nonadmitted insurers may also voluntarily seek to be placed on the LASLI maintained by the CDI. Surplus line brokers who make placements with non-admitted insurers under California Insurance Code Section 1765.1 are responsible for determining the eligibility of these insurers at the time of placement.Įligibility and Filing Requirements for Nonadmitted Insurers Approved on the LASLI: Any Alien (non-U.S.-domiciled) insurer that is listed on the Quarterly Listing of Alien Insurers maintained by the NAIC International Insurers Department and licensed as an insurer in its domiciliary jurisdiction.Any Foreign (U.S.-domiciled) insurer provided that the insurer has met the following requirements at the time of placement: (1) the insurer is licensed to write the type of insurance in its domiciliary jurisdiction, and (2) it has at least $45 million in capital and surplus.California law does not authorize domestic California surplus lines insurers.Įligibility Requirements For Insurers Qualifying Under NRRA:Įffective July 21, 2011, the provisions of the NRRA have been incorporated into California Insurance Code Section 1765.1 such that a broker may place surplus line insurance for California home state insureds with:.Also see California Insurance Code Section 1760.1(e)). California has not affiliated with any existing compact but has adopted legislation allowing it to keep 100% of surplus lines premium tax where California is the insured’s home state (California Insurance Code Section 1775.5(b)).1, 2020), payable by broker to The Surplus Line Association of California (SLA). Surplus lines tax/Stamping Fee: 3.0% payable by broker to the CDI stamping fee of 0.25% (effective Jan.California recognizes an exempt commercial purchaser (called “commercial insured” in California) under California Insurance Code Sections 1760.1(b) and 1763(h).California does have an industrial insured exemption (see Appendix C).California does maintain an Export List (see Other Comments section #4) ( ).California does have a Surplus Line Association ( ) (also see Other Comments section #14).The LASLI is a voluntary list of nonadmitted insurers that the California Department of Insurance (CDI) has approved for use by surplus line brokers for placement of risks when California is the home state of the insured. California does maintain a List of Approved Surplus Lines Insurers (LASLI) ( ).

State of california 2016 extension form