What is required information on the affidavit filed by a Surplus Lines Broker?

What is required information on the affidavit filed by a Surplus Lines Broker?

• A. Name of the insured
• B. Type of coverage
• C. Claim history
• D. Broker's license number

Answer: (A)

The affidavit filed by a Surplus Lines Broker is a crucial document in the surplus lines insurance process, and it serves to verify certain details about the insurance transaction. One of the key pieces of information that must be included is the name of the insured. This is essential because it identifies the party that is being protected under the surplus lines policy, ensuring that the coverage is accurately attributed to the correct individual or entity. Including the name of the insured helps to maintain clarity and legality in the insurance records and ensures that any future claims or policy documents can be properly associated with the correct insured party. This is important in regulatory oversight as well, ensuring that all parties involved are properly identified and that the insurance requirements are met according to state laws governing surplus lines insurance.

The affidavit filed by a Surplus Lines Broker is a crucial document in the surplus lines insurance process, and it serves to verify certain details about the insurance transaction. One of the key pieces of information that must be included is the name of the insured. This is essential because it identifies the party that is being protected under the surplus lines policy, ensuring that the coverage is accurately attributed to the correct individual or entity.

Including the name of the insured helps to maintain clarity and legality in the insurance records and ensures that any future claims or policy documents can be properly associated with the correct insured party. This is important in regulatory oversight as well, ensuring that all parties involved are properly identified and that the insurance requirements are met according to state laws governing surplus lines insurance.