{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4811.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4811.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4811.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4811.html"}],"law_id":78847,"edition_id":1,"section_id":78847,"structure_id":13712,"section_number":"38.2-4811","catch_line":"Surplus lines coverage to be placed with eligible nonadmitted insurers","history":"Code 1950, \u00a7 38.1-314.11; 1960, c. 503; 1979, c. 513, \u00a7 38.1-327.56; 1984, c. 719; 1986, c. 562; 1994, c. 647; 1995, c. 60; 2007, c. 157; 2011, c. 498; 2018, c. 205.","full_text":"A\n\nNo surplus lines broker shall procure a policy of insurance with any nonadmitted insurer unless such nonadmitted insurer has prior approval of the Commission to issue surplus lines insurance.B\n\nAny unlicensed foreign insurer wishing to be approved by the Commission to issue surplus lines coverage may receive such approval upon providing:1\n\nEvidence that it is authorized to write the type of insurance in its domiciliary jurisdiction; and2\n\nProof that it has capital and surplus or its equivalent under the laws of its domiciliary jurisdiction, which equal the greater of (i) the minimum capital and surplus requirements under §§ 38.2-1028, 38.2-1029, 38.2-1030 or § 38.2-1031, or (ii) $15 million.C\n\nNotwithstanding the capital and surplus requirements of subdivision B 2, an unlicensed foreign insurer may receive approval upon an affirmative finding of acceptability by the Commission. The finding shall be based upon such factors as quality of management, capital and surplus of any parent company, company underwriting profit and investment income trends, market availability, and company record and reputation within the industry. In no event shall the Commission make an affirmative finding of acceptability when the surplus lines insurer’s capital and surplus is less than $4.5 million.D\n\nAn unlicensed alien insurer shall be deemed approved by the Commission if such insurer is listed on the Quarterly Listing of Alien Insurers maintained by the NAIC International Insurers Department.E\n\nAny unlicensed foreign insurer approved by the Commission shall cause to be provided to the Commission, not later than March 1, a copy of its current annual statement certified by the insurer, in accordance with § 38.2-1300.\n\t\t\tThe Commission, at its discretion, may extend the period for filing an annual statement by a maximum of two months.F\n\nIf at any time the Commission has reason to believe that an eligible nonadmitted insurer (i) is in unsound financial condition, (ii) is no longer eligible under this section, (iii) has willfully violated the laws of the Commonwealth, or (iv) does not make reasonably prompt payment of just losses and claims in the Commonwealth or elsewhere, the Commission may declare it ineligible. The Commission shall promptly mail notice of all such declarations to each surplus lines licensee.","order_by":null,"text":{"0":{"id":282428,"text":"No surplus lines broker shall procure a policy of insurance with any nonadmitted insurer unless such nonadmitted insurer has prior approval of the Commission to issue surplus lines insurance.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":282429,"text":"Any unlicensed foreign insurer wishing to be approved by the Commission to issue surplus lines coverage may receive such approval upon providing:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":282430,"text":"Evidence that it is authorized to write the type of insurance in its domiciliary jurisdiction; and","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":282431,"text":"Proof that it has capital and surplus or its equivalent under the laws of its domiciliary jurisdiction, which equal the greater of (i) the minimum capital and surplus requirements under §§ 38.2-1028, 38.2-1029, 38.2-1030 or § 38.2-1031, or (ii) $15 million.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"C"},"4":{"id":282432,"text":"Notwithstanding the capital and surplus requirements of subdivision B 2, an unlicensed foreign insurer may receive approval upon an affirmative finding of acceptability by the Commission. The finding shall be based upon such factors as quality of management, capital and surplus of any parent company, company underwriting profit and investment income trends, market availability, and company record and reputation within the industry. In no event shall the Commission make an affirmative finding of acceptability when the surplus lines insurer’s capital and surplus is less than $4.5 million.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B2","next_prefix":"D"},"5":{"id":282433,"text":"An unlicensed alien insurer shall be deemed approved by the Commission if such insurer is listed on the Quarterly Listing of Alien Insurers maintained by the NAIC International Insurers Department.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"6":{"id":282434,"text":"Any unlicensed foreign insurer approved by the Commission shall cause to be provided to the Commission, not later than March 1, a copy of its current annual statement certified by the insurer, in accordance with § 38.2-1300.\n\t\t\tThe Commission, at its discretion, may extend the period for filing an annual statement by a maximum of two months.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"7":{"id":282435,"text":"If at any time the Commission has reason to believe that an eligible nonadmitted insurer (i) is in unsound financial condition, (ii) is no longer eligible under this section, (iii) has willfully violated the laws of the Commonwealth, or (iv) does not make reasonably prompt payment of just losses and claims in the Commonwealth or elsewhere, the Commission may declare it ineligible. The Commission shall promptly mail notice of all such declarations to each surplus lines licensee.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":13712,"edition_id":1,"name":"Surplus Lines Insurance Law","identifier":"48","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:45:37","date_modified":"2026-06-26 03:45:37","permalink":{"id":217289,"object_type":"structure","relational_id":13712,"identifier":"48","token":"38.2\/48","url":"\/38.2\/48\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60794,"structure_id":13712,"section_number":"38.2-4800","catch_line":"Repealed","url":"\/38.2-4800\/","token":"38.2\/48\/38.2-4800","metadata":false},{"id":54697,"structure_id":13712,"section_number":"38.2-4805.1","catch_line":"Application of chapter","url":"\/38.2-4805.1\/","token":"38.2\/48\/38.2-4805.1","metadata":false},{"id":58581,"structure_id":13712,"section_number":"38.2-4805.2","catch_line":"Definitions","url":"\/38.2-4805.2\/","token":"38.2\/48\/38.2-4805.2","metadata":false},{"id":59102,"structure_id":13712,"section_number":"38.2-4806","catch_line":"Notice to insured that insurance is placed with an eligible nonadmitted insurer required","url":"\/38.2-4806\/","token":"38.2\/48\/38.2-4806","metadata":false},{"id":57722,"structure_id":13712,"section_number":"38.2-4807","catch_line":"Licensees to keep records and file annual statement of policies","url":"\/38.2-4807\/","token":"38.2\/48\/38.2-4807","metadata":false},{"id":70999,"structure_id":13712,"section_number":"38.2-4808","catch_line":"Effect of payment to surplus lines broker","url":"\/38.2-4808\/","token":"38.2\/48\/38.2-4808","metadata":false},{"id":78635,"structure_id":13712,"section_number":"38.2-4809","catch_line":"Licensees to pay license taxes on insurers","url":"\/38.2-4809\/","token":"38.2\/48\/38.2-4809","metadata":false},{"id":65701,"structure_id":13712,"section_number":"38.2-4809.1","catch_line":"Licensees to pay assessments on insurers","url":"\/38.2-4809.1\/","token":"38.2\/48\/38.2-4809.1","metadata":false},{"id":62454,"structure_id":13712,"section_number":"38.2-4810","catch_line":"Issuance and delivery of surplus lines policies; prior authority or information required","url":"\/38.2-4810\/","token":"38.2\/48\/38.2-4810","metadata":false},{"id":78847,"structure_id":13712,"section_number":"38.2-4811","catch_line":"Surplus lines coverage to be placed with eligible nonadmitted insurers","url":"\/38.2-4811\/","token":"38.2\/48\/38.2-4811","metadata":false},{"id":64334,"structure_id":13712,"section_number":"38.2-4811.1","catch_line":"Surplus lines coverage placed with domestic surplus lines insurers","url":"\/38.2-4811.1\/","token":"38.2\/48\/38.2-4811.1","metadata":false},{"id":84818,"structure_id":13712,"section_number":"38.2-4812","catch_line":"Surplus lines insurers subject to Unlicensed Insurers Process","url":"\/38.2-4812\/","token":"38.2\/48\/38.2-4812","metadata":false},{"id":80611,"structure_id":13712,"section_number":"38.2-4813","catch_line":"Commission to make rules and regulations","url":"\/38.2-4813\/","token":"38.2\/48\/38.2-4813","metadata":false},{"id":61457,"structure_id":13712,"section_number":"38.2-4814","catch_line":"Penalties","url":"\/38.2-4814\/","token":"38.2\/48\/38.2-4814","metadata":false},{"id":56879,"structure_id":13712,"section_number":"38.2-4815","catch_line":"Effect on other provisions of Title 38.2","url":"\/38.2-4815\/","token":"38.2\/48\/38.2-4815","metadata":false},{"id":74365,"structure_id":13712,"section_number":"38.2-4816","catch_line":"Exchange of information","url":"\/38.2-4816\/","token":"38.2\/48\/38.2-4816","metadata":false}],"previous_section":{"id":62454,"structure_id":13712,"section_number":"38.2-4810","catch_line":"Issuance and delivery of surplus lines policies; prior authority or information required","url":"\/38.2-4810\/","token":"38.2\/48\/38.2-4810","metadata":false},"next_section":{"id":64334,"structure_id":13712,"section_number":"38.2-4811.1","catch_line":"Surplus lines coverage placed with domestic surplus lines insurers","url":"\/38.2-4811.1\/","token":"38.2\/48\/38.2-4811.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4811\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 9 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1960, chapter 503; in 1979, chapter 513; in 1984, chapter 719; in 1986, chapter 562; in 1994, chapter 647<\/a>; in 1995, chapter 60<\/a>; in 2007, chapter 157<\/a>; in 2011, chapter 498<\/a>; in 2018, chapter 205<\/a>.<\/p>","references":[{"id":58581,"section_number":"38.2-4805.2","catch_line":"Definitions","order_by":null,"url":"\/38.2-4805.2\/"}],"refers_to":[{"id":85672,"section_number":"38.2-1028","catch_line":"Additional licensing requirements for stock insurers","order_by":null,"url":"\/38.2-1028\/"},{"id":79650,"section_number":"38.2-1029","catch_line":"Additional licensing requirements for mutual insurers","order_by":null,"url":"\/38.2-1029\/"},{"id":63344,"section_number":"38.2-1030","catch_line":"Surplus requirements for issuing policies without contingent liability","order_by":null,"url":"\/38.2-1030\/"},{"id":76434,"section_number":"38.2-1031","catch_line":"Additional requirements, alien insurers","order_by":null,"url":"\/38.2-1031\/"},{"id":81115,"section_number":"38.2-1300","catch_line":"Annual statements","order_by":null,"url":"\/38.2-1300\/"}],"permalink":{"id":217327,"object_type":"law","relational_id":78847,"identifier":"38.2-4811","token":"38.2\/48\/38.2-4811","url":"\/38.2-4811\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4811\/","token":"38.2\/48\/38.2-4811","dublin_core":{"Title":"Surplus lines coverage to be placed with eligible nonadmitted insurers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4811","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No surplus lines broker<\/span> shall procure a policy of insurance with any nonadmitted insurer<\/span> unless such nonadmitted insurer<\/span> has prior approval of the Commission<\/span> to issue<\/span> surplus lines insurance<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Any unlicensed foreign insurer wishing to be approved by the Commission<\/span> to issue<\/span> surplus lines coverage may receive such approval upon providing: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Evidence<\/span> that it is authorized to write the type of insurance in its domiciliary jurisdiction<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Proof that it has capital and surplus or its equivalent under the laws<\/span> of its domiciliary jurisdiction<\/span>, which equal the greater of (i) the minimum capital and surplus requirements under §§ 38.2-1028<\/a>, 38.2-1029<\/a>, 38.2-1030<\/a> or § 38.2-1031<\/a>, or (ii) $15 million. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding the capital and surplus requirements of subdivision B 2, an unlicensed foreign insurer may receive approval upon an affirmative finding<\/span> of acceptability by the Commission<\/span>. The finding<\/span> shall be based upon such factors as quality of management, capital and surplus of any parent company<\/span>, company<\/span> underwriting profit and investment income trends, market availability, and company<\/span> record and reputation within the industry. In no event shall the Commission<\/span> make an affirmative finding<\/span> of acceptability when the surplus lines insurer’s capital and surplus is less than $4.5 million. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> An unlicensed alien insurer shall be deemed approved by the Commission<\/span> if such insurer is listed on the Quarterly Listing of Alien Insurers<\/span> maintained by the NAIC<\/span> International Insurers<\/span> Department. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Any unlicensed foreign insurer approved by the Commission<\/span> shall cause to be provided to the Commission<\/span>, not later than March 1, a copy of its current annual statement certified by the insurer, in accordance with § 38.2-1300<\/a>.\n\t\t\tThe Commission<\/span>, at its discretion, may extend the period for filing an annual statement by a maximum of two months. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> If at any time the Commission<\/span> has reason to believe that an eligible nonadmitted insurer<\/span> (i) is in unsound financial condition, (ii) is no longer eligible under this section, (iii) has willfully violated the laws<\/span> of the Commonwealth, or (iv) does not make reasonably prompt payment of just losses and claims in the Commonwealth or elsewhere, the Commission<\/span> may declare it ineligible. The Commission<\/span> shall promptly mail notice of all such declarations to each surplus lines licensee. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSURPLUS LINES COVERAGE TO BE PLACED WITH ELIGIBLE NONADMITTED INSURERS (\u00a7\n38.2-4811)\n\nA. No surplus lines broker shall procure a policy of insurance with any\nnonadmitted insurer unless such nonadmitted insurer has prior approval of the\nCommission to issue surplus lines insurance.\n\nB. Any unlicensed foreign insurer wishing to be approved by the Commission to\nissue surplus lines coverage may receive such approval upon providing:\n\n 1. Evidence that it is authorized to write the type of insurance in its\n domiciliary jurisdiction; and\n\n 2. Proof that it has capital and surplus or its equivalent under the laws of\n its domiciliary jurisdiction, which equal the greater of (i) the minimum\n capital and surplus requirements under §§ 38.2-1028, 38.2-1029,\n 38.2-1030 or § 38.2-1031, or (ii) $15 million.\n\nC. Notwithstanding the capital and surplus requirements of subdivision B 2, an\nunlicensed foreign insurer may receive approval upon an affirmative finding of\nacceptability by the Commission. The finding shall be based upon such factors as\nquality of management, capital and surplus of any parent company, company\nunderwriting profit and investment income trends, market availability, and\ncompany record and reputation within the industry. In no event shall the\nCommission make an affirmative finding of acceptability when the surplus lines\ninsurer’s capital and surplus is less than $4.5 million.\n\nD. An unlicensed alien insurer shall be deemed approved by the Commission if\nsuch insurer is listed on the Quarterly Listing of Alien Insurers maintained by\nthe NAIC International Insurers Department.\n\nE. Any unlicensed foreign insurer approved by the Commission shall cause to be\nprovided to the Commission, not later than March 1, a copy of its current annual\nstatement certified by the insurer, in accordance with § 38.2-1300.\n\t\t\tThe Commission, at its discretion, may extend the period for filing an annual\nstatement by a maximum of two months.\n\nF. If at any time the Commission has reason to believe that an eligible\nnonadmitted insurer (i) is in unsound financial condition, (ii) is no longer\neligible under this section, (iii) has willfully violated the laws of the\nCommonwealth, or (iv) does not make reasonably prompt payment of just losses and\nclaims in the Commonwealth or elsewhere, the Commission may declare it\nineligible. The Commission shall promptly mail notice of all such declarations\nto each surplus lines licensee.\n\nHISTORY: Code 1950, \u00a7 38.1-314.11; 1960, c. 503; 1979, c. 513, \u00a7 38.1-327.56;\n1984, c. 719; 1986, c. 562; 1994, c. 647; 1995, c. 60; 2007, c. 157; 2011, c.\n498; 2018, c. 205.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}