Answer
Dec 28, 2023 - 08:34 AM
We are licensed as a surplus lines carrier. As a surplus lines carrier, we do not pay into the state insurance fund. This fund was created years ago when insurance companies would go out of business and the funds were used to pay claims that were made. Many new regulations have been put in place that make it harder (near impossible) for insurance companies to go out of business and leave their clients stranded. This fund still exist even though it is not used.
