A producer that places insurance with a qualified surplus lines carrier may be either a resident or a nonresident of this state and must be licensed to sell insurance classified as excess and surplus lines insurance.
Iowa Code section 515I and Iowa Administrative Code 191-21 set out a producer’s obligations when placing business with a surplus lines company. Qualified surplus lines companies are not to be used to compete price wise against admitted companies. If an account is in or can be placed in an admitted company, it must be placed with the admitted company.
Surplus lines producers may use this diligent search form to track their diligent search efforts. This form is optional; producers may use other formats to track their diligent search efforts.
If you would like to become a registered surplus lines carrier, visit the surplus lines carrier page.