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What Are The Procedures/Policies Regarding The Suspension Or Revocation Of A Surplus Lines Broker License?

A Surplus Lines Broker`s license may be revoked if the broker fails to file his annual statement, remit the annual tax required by law, maintain the appropriate bond, maintain an office in the state to keep records or not allow examination of records. In addition, the Commissioner may suspend or revoke the broker`s license if he finds that the broker has, willfully or without exercise of due care, placed any insurance coverage with an unauthorized (non­ admitted) insurer in violation of any of the Alabama code requirements.

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