Common use of SURPLUS LINES INSURANCE Clause in Contracts

SURPLUS LINES INSURANCE. Producer shall not place an order with CRC for any excess or surplus lines insurance unless Producer shall have first complied with any applicable state laws requiring the Producer to attempt to procure such insurance from insurers authorized to do business in that State(s) and the Producer is properly licensed in that State(s). The party responsible for the payment of surplus lines taxes shall also be responsible for full compliance with all relevant surplus lines laws of the pertinent State(s), including but not limited to, the collection and payment of surplus lines taxes, filing of affidavits, and providing the appropriate statutory and/or regulatory disclosure legends on all documents. Where CRC is responsible for filing surplus lines taxes all required forms, documents and paperwork must be provided by Producer to CRC in a timely manner to allow for the prompt filing of the surplus lines taxes.