(1) The insurer with which the licensee places the insurance is not licensed by this state and is not subject to its supervision; and
(2) In the event of the insolvency of the surplus lines insurer, losses will not be paid by the state insurance guaranty fund.
(b) Nothing herein contained shall nullify any agreement by any insurer to provide insurance.
Note: WV Code updated with legislation passed through the 2016 Regular Session
The West Virginia Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.