Indiana Surplus Lines study guide
Indiana Surplus Lines · Work through your exam, one topic at a time.
A surplus lines license lets an Indiana-licensed property and casualty producer place coverage with insurers that are not admitted in Indiana, when the admitted market cannot or will not write the risk. It is an add-on authority: candidates generally hold, or are simultaneously earning, a resident property and casualty producer license, and the surplus lines credential is what allows them to broker to eligible non-admitted carriers and to handle the tax and filing duties that come with it. The Indiana Surplus Lines study guide has 5 sections and about 1,797 words.
01Indiana Surplus Lines Statutes, Rules, and Regulatory Framework
Indiana's surplus lines framework sits in Title 27 of the Indiana Code (the surplus lines article) together with rules and bulletins issued by the Indiana Department of Insurance (DOI) and enforced by the insurance commissioner. The statute's purpose is narrow: surplus lines exist to fill gaps the admitted market leaves, not to give buyers a cheaper or more convenient alternative.
338 words, about 2 min02Diligent Search and Placement with Non-Admitted Insurers
Before placing coverage with a non-admitted insurer, the producer must show that the coverage could not be obtained from authorized insurers. A diligent search is not a phone call; it is a documented market check covering the full scope of coverage requested with authorized insurers that actually write that class of business in Indiana.
371 words, about 2 min03Surplus Lines Producer Licensing, Eligibility, and Recordkeeping
An Indiana surplus lines producer must hold a property-casualty producer license in good standing and the surplus lines authority the statute and DOI rules require, with continuing education and renewal maintained. Non-resident producers may place Indiana risks where the NRRA home-state rules allow, but only if properly licensed in the home state.
357 words, about 2 min04Premium Tax, Stamping, and Reporting/Filing Requirements
Indiana imposes a surplus lines premium tax on the gross premium written by non-admitted insurers for Indiana risks. The producer collects the tax from the insured at placement and remits it with the required return; the obligation is not discharged by the insurer's own state taxes, and it is not excused if the insured fails to pay.
375 words, about 2 min05Eligible Surplus Lines Insurer Standards and the Export List
A non-admitted insurer may write Indiana surplus lines business only if it is an eligible surplus lines insurer. Typical statutory criteria: authority to write the class in its domiciliary jurisdiction; maintenance of the minimum capital and surplus the statute requires; good standing and no delinquency or rehabilitation proceeding; a filed consent to service of process and agreement to be examined and to pay Indiana taxes; and, for alien insurers, current listing on the NAIC International Insurers Department (IID) quarterly listing.
356 words, about 2 min