District Of Columbia Insurance Producer License Exam

Before placing coverage in the surplus lines market in DC, a broker must demonstrate which of the following?

That the risk is a new business with no insurance history A diligent search—typically three declinations from admitted carriers—showing the risk cannot be placed in the admitted market That the insured has agreed to waive guaranty association protections That the non-admitted insurer is licensed in the insured's home state

Correct Answer:

A diligent search—typically three declinations from admitted carriers—showing the risk cannot be placed in the admitted market

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