Kan. Admin. Regs. § 40-8-2 - Excess line insurance; refusal of admitted carriers; rate differentials; artificial divisions of coverage; portions of risk unacceptable
Risks which may be written but are declined by admitted insurers may be placed with non-admitted insurers in accordance with K.S.A. 40-246b subject to the following conditions:
(a) When the coverage sought would be
acceptable as a single contract to admitted insurers, artificial divisions of
coverage into two or more proposed contracts shall be prohibited for the
purpose of:
(1) Rendering a portion of the
coverage unacceptable to admitted companies; or
(2) obtaining a rate advantage upon the
entire risk.
(b) With
prior approval of the commissioner, a risk involving a single class of coverage
may be placed with a non-admitted insurer if a portion of the risk is
unacceptable to admitted insurers and the non-admitted insurer will not write
the unacceptable portion separately.
(c) A risk shall not be placed with a
non-admitted insurer if the risk includes a combination of classes of insurance
that may be procured from separate admitted insurers under separate contracts.
(d) A risk shall not be placed
with a non-admitted insurer if the risk includes a combination of classes of
insurance that a single admitted insurer is prohibited from writing in either a
single contract or in separate contracts, or both. In these cases, separate
forms of contracts, each incorporating a class or a lawful combination of
classes, shall be offered to and refused by admitted insurers for each class or
combination of classes, before the insurance can be placed with non-admitted
insurers.
Notes
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