Source: https://surplusmanual.lockelord.com/appendix-c/
Timestamp: 2019-04-26 11:14:07+00:00

Document:
3) Minimum 25 employees. §27-10-20(2) Not codified.
(7) is a municipality with a population of over 25,000.
Also under §21.34.900(13); Bulletin B 11-03 (July 22, 2011) AK recognizes the ECP definition under NRRA.
Qualified risk manager has the same definition as the NRRA.
Arizona’s exemption for industrial insureds is the same exemption as under the NRRA, Bulletin 2011-06 (June 28, 2011).
3) Minimum 25 full-time employees.
Subject to 2% tax (within 30 days after insurance procured, continued or renewed) (includes surplus lines insurance when procured without use of a surplus lines broker). §23-65-103(c).
3) Minimum 100 full-time employees. §10-3-910(2) Not codified.
Subject to 2% tax for new and renewal policies with an effective date on or after July 21, 2011. Surplus Lines Bulletin 9 (August 16, 2011).
District of Columbia No — Not codified.
Florida(2) No. § 626.938 Industrial exemption/not codified.
c) Minimum $5 million annual gross revenues.
Subject to 4% tax (within 30 days). §33-5-33(a); Bulletin 11-EX-3 (September 12, 2011).
Subject to 4.68% tax (within 45 days after the end of the calendar quarter in which the insurance was procured, continued, or renewed). §431:8-205(b) and (c); Memorandum 2011-4E (October 18, 2011).
“Commercial insurance” defined as “property and casualty insurance pertaining to a business, profession, occupation, nonprofit organization or public entity.” §41-1213(5)(c).
Subject to 1.5% tax for policies new and renewal policies with an effective date on or after July 1, 2011 (within 30 days after insurance procured, continued or renewed).
Illinois(4) 1) Insurance (excluding life and annuity contracts) procured through full-time employee who is a qualified risk manager (as defined in the NRRA) or a regularly and continuously retained consultant who is a qualified risk manager.
2) Procured directly from an unauthorized insurer without the services of an intermediary insurance producer.
3) Insured is an exempt commercial purchaser (as defined in the NRRA) whose home state (as defined in the NRRA) is Illinois.
4) Must file policies (effective 1/1/15 or later) within 90 days of effective date, and endorsements within 90 days of issuance.
4) Remits a 2.5% tax on all gross premiums by February 1 along with an affidavit specifying all transactions undertaken in the previous year. §27-4-5-2(a)(8) Not codified.
Iowa No — Not codified.
5) Minimum $10,000 contributed to the capital or surplus of the industrial insured captive insurance company that insures its risks. §40-4301(e) Not codified.
4) Qualified as an industrial insured as of July 1, 1999.
(iv) Minimum $500,000 in annual aggregate insurance premiums in the preceding fiscal year.
Filing Requirement. All industrial insureds and exempt commercial policyholders must reapply to the Commissioner of Insurance for their respective insured status every three years, on a form the Commissioner of Insurance shall promulgate by administrative regulation.
To the extent that a prospective insured meets either the KY or Federal definition of an exempt commercial purchaser, KY’s due diligence requirement is preempted. The definitions of an exempt commercial purchaser under NRRA and an exempt commercial policyholder under KY law differ slightly. If an insured meets the definition of an exempt commercial purchaser under NRRA, federal law will govern the multi-state non-admitted insurance transaction covering the exempt commercial policyholder. In this event, the surplus lines broker placing the coverage must comply with the taxation requirements applicable to other multi-state non-admitted insurance transactions.
Tax of 5% (quarterly). §22:439(B). §23:1161 Not codified.
Definition in Bulletin 2011-01 is same as NRRA.
3% (quarterly). Title 36, A §2531(2) and (3).
“Large Commercial Policyholder” is defined as an insured that has aggregate property and casualty insurance premiums of $30,000 excluding workers’ compensation, certifies that it has elected to be treated as a Large Commercial Policyholders and meets 2 of the following criteria: (i) net worth of 10M, (ii) net revenue of sales of $5M, (iii) more than 25 employees per individual company or more than 50 employees per holding company aggregate; (iv) nonprofit or public entity with an annual budget or assets of $25M or more, (v) is a municipality with a population of 20,000 or more, or (vi) retains a risk manager who shall be a full-time employee or a person retained by the insured who shall either be (a) a certified insurance counselor, (b) a chartered property and casualty underwriter, (c) an associate in risk management, (d) a certified risk manager or (e) a licensed insurance advisor in property and casualty insurance.
3) Minimum 25 full-time employees. §500.4601(n) Not codified.
Same as NRRA, except insured may satisfy a condition for exemption if it is a city whose population is over 25,000 or a county whose population is over 20,000.
3% of gross premiums charged. §406-B:16(VI)(a) §406-B:16 VI Not codified.
Definition in Bulletin of August 15, 2011 is the same as NRRA.
(3) whose aggregate annual premiums for insurance on all risks total at least $25,000.
4) A city with a population of one million or more.
Same as NRRA, except the following standards are relaxed.
Puerto Rico No — Not codified.
(Relates to Captives) § 27-3-38.
§38-90-10(16) § 38-45-10, § 38-45-90.
Varies from NRRA. The term “exempt commercial policyholder” means any person who applies for or procures any kind of property casualty insurance, except title or workers’ compensation insurance, through a risk manager, and meets at least two of the following qualifications.
(7) if a municipality, minimum 20,000 population.
3) Minimum 25 full-time employees. §31A-37-102(16) Rule R590-171-3, Rule R590-171-6.
T.8 §6001(8) T.8 § 5024; Definition not codified.
However, Bulletin 163 references the federal definition as provided in 15 U.S.C. § 8206(5).
U.S. Virgin Islands(10) No — Not codified.
4) Minimum gross assets in excess of $3 million or annual gross revenues in excess of $5 million. §38.2-1039(D)(5) Not codified. However, Administrative Letter 2011-4 indicates that the Virginia General Assembly enacted House Bill 2286, which amended various provisions of the Surplus Lines and Insurance Law chapter (§§ 38.2-4800 et seq.) in accordance with provisions of NRRA effective as of July 1, 2011.
Wisconsin No — Not codified.
(1)The Alaska legislature added language to its surplus lines laws in 2009 to extend the commercial policyholder exemption for surplus lines.
(2)“Industrial Insured” exemption recognized with respect to captive insurers only.
(3)“Industrial Insured” exemption recognized with respect to nonadmitted insurers only.
(4)“Industrial Insured” exemption also recognized in limited instances with respect to captive insurers (i.e., directors’ and officers’ liability insurance and bankers’ blanket bonds).
(5)“Industrial Insured” exemption recognized with respect to workers’ compensation insurance only.
(6)”Industrial Insured” exemption is restricted to excess liability insurance in excess of $25,000,000.
(7)”Industrial Insured” exemption only applies to an insured who filed an affidavit to the Executive Director of Insurance prior to July 1, 1999 establishing that it had satisfied the then existing criteria for obtaining that status.
(8)”Industrial Insured” exemption recognized with respect to life insurance only.
(9)”Industrial Insured” exemption also recognized with respect to captive insurers.
(10)”The Industrial Insured” exemption in USVI was repealed in 2008.
(11)”Industrial Insured” exemption in Texas only waives the diligent search requirement and only if (1) the agent placing the coverage discloses to the industrial insured that (A) comparable insurance may be available from the admitted market that is subject to more regulatory oversight than the surplus lines market; and (B) a policy purchased in the admitted market may provide greater protection than the surplus lines insurance policy; (2) the surplus lines company offering the coverage has a financial strength rating of A- or better from A.M. Best; and (3) after receiving the notice described in Subd. (1) above, the industrial insured requests in writing that the agent procure the insurance from or place the insurance with an eligible surplus lines insurer.

References: §27
 §21
 §23
 §10
 § 626
 §33
 §431
 §41
 §27
 §40
 §22
 §23
 §2531
 §500
 §406
 §406
 § 27

§38
 § 38
 § 38
 §31
 §6001
 § 5024
 § 8206
 §38