Common use of SURPLUS LINES INSURANCE Clause in Contracts

SURPLUS LINES INSURANCE. 3.1. Producer shall not place an order with SYNCHRONOSURE for any excess or surplus lines insurance unless: 3.1.1. Producer shall have first complied with any applicable state laws rules or regulations requiring the Producer to attempt to procure such insurance from insurers authorized to do business in that State(s); 3.1.2. The Producer is properly licensed to conduct excess or surplus lines business in that State(s). 3.2. The Producer is responsible for collection and payment of surplus lines taxes and shall also be responsible for compliance with all relevant surplus lines laws of the pertinent State(s), including (as applicable) but not limited to, the collection and timely payment of surplus lines taxes, filing affidavits or certifications, advising the Insured, providing statutory and/or regulatory disclosures, obtaining signed disclosure forms, filing documentation to stamping authorities, signing policy documents, statutory or regulatory reporting relating to surplus lines business conducted by Producer, and retaining all necessary information and documents in the appropriate manner and for the appropriate periods as defined by State laws rules and regulations (and in no event less than 5 years). 3.3. For any excess or surplus lines business placed with SYNCHRONOSURE by Producer, Producer warrants and represents that it has complied and will comply with Sections 3.1 and 3.2 above and will indemnify defend and hold harmless SYNCHRONOSURE and the relevant Insurer from any loss, fine, sanction, penalty, claim, liability, damage and expense (including attorney's fees and expenses of litigation) howsoever arising from Producer’s failure to comply with its obligations under Sections 3.1 and 3.2 above. 3.4. If requested, Producer will provide promptly to SYNCHRONOSURE evidence of compliance in accordance with Sections 3.1 and 3.2 above. SYNCHRONOSURE reserves the right to withhold payment of any commission otherwise payable under Section 4 until receipt of satisfactory evidence. Provision of evidence by Producer and any consequent decision by SYNCHRONOSURE to release commission in accordance with this Section 3.4 shall have no bearing on and will not give rise to any waiver forbearance estoppel or other limitation or restraint on or otherwise prejudice SYNCHRONOSURE’s right to rely upon and enforce the indemnity in Section 3.3 above in full. 3.5. In the event that SYNCHRONOSURE elects to xxxx Insureds directly in accordance with Section 6 below, SYNCHRONOSURE undertakes to xxxx and collect from the Insured any applicable surplus lines tax on behalf of the Producer. Unless otherwise agreed, SYNCHRONOSURE will report on and remit to Producer any surplus lines tax collections in the same way and at the same time as any commissions pursuant to Section 4 below. 3.6. For all excess and surplus lines business undertaken pursuant to this Agreement and save where required to communicate directly with the Insured by law or regulation, SYNCHRONOSURE shall send all policy documents (including quotes wordings and endorsements) and other notifications to the Producer for onwards transmission to the Insured. In such cases, receipt by the Producer shall be deemed receipt by the Insured.

SURPLUS LINES INSURANCE. 3.1. Producer shall not place an order with SYNCHRONOSURE for any excess or surplus lines insurance unless: 3.1.1. Producer shall have first complied with any applicable state laws rules or regulations requiring the Producer to attempt to procure such insurance from insurers authorized to do business in that State(s); 3.1.2. The Producer is properly licensed to conduct excess or surplus lines business in that State(s). 3.2. The Producer is responsible for collection and payment of surplus lines taxes and shall also be responsible for compliance with all relevant surplus lines laws of the pertinent State(s), including (as applicable) but not limited to, the collection and timely payment of surplus lines taxes, filing affidavits or certifications, advising the Insured, providing statutory and/or regulatory disclosures, obtaining signed disclosure forms, filing documentation to stamping authorities, signing policy documents, statutory or regulatory reporting relating to surplus lines business conducted by Producer, and retaining all necessary information and documents in the appropriate manner and for the appropriate periods as defined by State laws rules and regulations (and in no event less than 5 years). 3.3. For any excess or surplus lines business placed with SYNCHRONOSURE by Producer, Producer warrants and represents that it has complied and will comply with Sections 3.1 and 3.2 above and will indemnify defend and hold harmless SYNCHRONOSURE and the relevant Insurer from any loss, fine, sanction, penalty, claim, liability, damage and expense (including attorney's fees and expenses of litigation) howsoever arising from Producer’s failure to comply with its obligations under Sections 3.1 and 3.2 above. 3.4. If requested, Producer will provide promptly to SYNCHRONOSURE evidence of compliance in accordance with Sections 3.1 and 3.2 above. SYNCHRONOSURE reserves the right to withhold payment of any commission otherwise payable under Section 4 until receipt of satisfactory evidence. Provision of evidence by Producer and any consequent decision by SYNCHRONOSURE to release commission in accordance with this Section 3.4 shall have no bearing on and will not give rise to any waiver forbearance estoppel or other limitation or restraint on or otherwise prejudice SYNCHRONOSURE’s right to rely upon and enforce the indemnity in Section 3.3 above in full. 3.5. In the event that SYNCHRONOSURE elects to xxxx bill Insureds directly in accordance with Section 6 below, SYNCHRONOSURE undertakes to xxxx bill and collect from the Insured any applicable surplus lines tax on behalf of the Producer. Unless otherwise agreed, SYNCHRONOSURE will report on and remit to Producer any surplus lines tax collections in the same way and at the same time as any commissions pursuant to Section 4 below. 3.6. For all excess and surplus lines business undertaken pursuant to this Agreement and save where required to communicate directly with the Insured by law or regulation, SYNCHRONOSURE shall send all policy documents (including quotes wordings and endorsements) and other notifications to the Producer for onwards transmission to the Insured. In such cases, receipt by the Producer shall be deemed receipt by the Insured.

SURPLUS LINES INSURANCE. 3.1. Where the Producer has elected to procure Surplus Lines Brokerage services from SYNCHRONOSURE (and which election must be expressly shown in this Agreement to be effective), the terms of Appendix Two to this Agreement shall additionally apply in respect of any non-admitted/surplus lines business introduced by Producer to SYNCHRONOSURE, and Sections 3.2.2 and 3.3 - 3.5 (inclusive) below shall not apply to such business. 3.2. Producer shall not place an order with SYNCHRONOSURE for any non-admitted, excess or surplus lines insurance unless: 3.1.13.2.1. Producer shall have first complied with any applicable state laws rules or regulations requiring the Producer to attempt to procure such insurance from insurers authorized to do business in that State(s), and to produce or procure mandated documentation including but not limited to diligent searches of the admitted market, disclosure statements, attestations, and certificates where required; 3.1.23.2.2. The Producer is properly licensed to conduct excess or surplus lines business in that State(s). 3.23.3. The Producer is responsible for collection and payment of surplus lines taxes and shall also be responsible for compliance with all relevant surplus lines laws of the pertinent State(s), including (as applicable) but not limited to, the collection and timely payment of surplus lines taxes, filing affidavits or certifications, advising the Insured, providing statutory and/or regulatory disclosures, obtaining signed disclosure forms, filing documentation to stamping authorities, signing policy documents, statutory or regulatory reporting relating to surplus lines business conducted by Producer, and retaining all necessary information and documents in the appropriate manner and for the appropriate periods as defined by State laws rules and regulations (and in no event less than 5 years). 3.3. For any excess or surplus lines business placed with SYNCHRONOSURE by Producer, Producer warrants and represents that it has complied and will comply with Sections 3.1 and 3.2 above and will indemnify defend and hold harmless SYNCHRONOSURE and the relevant Insurer from any loss, fine, sanction, penalty, claim, liability, damage and expense (including attorney's fees and expenses of litigation) howsoever arising from Producer’s failure to comply with its obligations under Sections 3.1 and 3.2 above. 3.4. If requested, Producer will provide promptly to SYNCHRONOSURE evidence of compliance in accordance with Sections 3.1 3.2 and 3.2 3.3 above. SYNCHRONOSURE reserves the right to withhold payment of any commission otherwise payable under Section 4 until receipt of satisfactory evidence. Provision of evidence by Producer and any consequent decision by SYNCHRONOSURE to release commission in accordance with this Section 3.4 shall have no bearing on and will not give rise to any waiver forbearance estoppel or other limitation or restraint on or otherwise prejudice SYNCHRONOSURE’s right to rely upon and enforce the indemnity in Section 3.3 above 23 in full. 3.5. In the event that SYNCHRONOSURE elects to xxxx bill Insureds directly in accordance with Section 6 below, SYNCHRONOSURE undertakes to xxxx bill and collect from the Insured any applicable surplus lines tax or state-mandated charges on behalf of the Producer. Unless otherwise agreed, SYNCHRONOSURE will report on and remit to Producer any surplus lines tax collections in the same way and at the same time as any commissions pursuant to Section 4 below. 3.6. For all excess and surplus lines business undertaken pursuant to this Agreement and save where required to communicate directly with the Insured by law or regulation, SYNCHRONOSURE shall send all policy documents (including quotes wordings and endorsements) and other notifications to the Producer for onwards transmission to the Insured. In such cases, receipt by the Producer shall be deemed receipt by the Insured.