2018 S 2c

jasonchwjasonchw
in Emmanual.ExcessLines

one of the answer in the examiner report is "It can be regulated by the home state DOI of the insurer".
I thought only the customer's home state has exclusive authority to regulate the placement. (from wiki)
Have i misunderstood anything?

Comments

  • grahamgraham

    It is a little confusing, especially since this topic is discussed in multiple readings.

    Under NRRA, there is significant regulatory authority with the home state of the insured. Here, the state has the authority to regulate the insurance placement, including taxation and compliance matters.

    However, the insurer's own home state also has regulatory authority over the insurer in terms of solvency and compliance with financial standards:

    1. Regulation by the insured's home state: Primarily concerns taxation, the licensing of surplus lines brokers, and compliance with surplus lines laws.
    2. Regulation by the insurer's home state: Focuses on the financial health and operational standards of the insurer.
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