304.10-040 Conditions for export.
If certain insurance coverages cannot be procured from authorized insurers such <br>coverages hereinafter designated "surplus lines," may be procured from unauthorized <br>insurers subject to the following conditions: <br>(1) The insurance must be procured through a licensed surplus lines broker. <br>(2) The full amount of insurance required must not be procurable, after diligent effort
has been made to do so, from among the insurers authorized to transact and actually <br>writing that kind and class of insurance in this state, and the amount of insurance <br>exported shall be only the excess over the amount procurable from authorized <br>insurers.
(3) The insurance must not be so exported for the purpose of securing advantages either
as to: <br>(a) A lower premium rate than would be accepted by an authorized insurer; or <br>(b) Terms of the insurance contract.
Effective: June 18, 1970 <br>History: Created 1970 Ky. Acts ch. 301, subtit. 10, sec. 4, effective June 18, 1970.
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