§431:8-312 - Records of surplus lines broker. - Hawaii Statutes

     §431:8-312  Records of surplus lines broker.  (a)  Each licensed surplus lines broker shall keep in the broker's office in this State a full and true record of each surplus lines contract placed by the broker including a copy of the policy, certificate, cover note, or other evidence of insurance showing such of the following items as may be applicable:

     (1)  Amount of the insurance and perils insured;

     (2)  Brief description of the property insured and its location;

     (3)  Gross premium charged;

     (4)  Any return premium paid;

     (5)  Rate of premium charged upon the several items of property;

     (6)  Effective date of the contract, and the terms thereof;

     (7)  Name and address of the insured;

     (8)  Name and address of the insurer;

     (9)  Amount of tax and other sums to be collected from the insured; and

    (10)  Any additional information required by the commissioner.

     (b)  For each contract of insurance placed by a surplus lines broker, the broker shall maintain a written statement as to the diligent efforts by the surplus lines broker or the producer to place the insurance with authorized insurers.

     (c)  The record of each contract shall be kept open at all reasonable times to examination by the commissioner without notice for a period not less than five years following the termination of the contract. [L 1987, c 347, pt of §2; am L 1989, c 207, §7; am L 2002, c 155, §19]