W. Va. Code R. § 114-20-4A
Current through Register Vol. XLI, No. 50, December 13, 2024
Section 114-20-4A - Exempt Commercial Purchasers4A.1. A licensee is not required to perform a diligent search in accordance with section 4 of this rule when seeking to procure or place nonadmitted insurance for an exempt commercial purchaser whose home state is West Virginia if the prospective purchaser has signed a document prior to the placement of such insurance that provides that the licensee has disclosed that such insurance may or may not be available from an admitted insurer that might provide greater protection and more regulatory oversight and that the purchaser has nonetheless requested that the licensee procure or place with a nonadmitted carrier.W. Va. Code R. § 114-20-4A