Surplus Lines Companies

The registration of surplus lines companies in North Carolina is governed by Chapter 58, Article 21 of the North Carolina General Statutes (Surplus Lines Act).

Filing a Registration Application

All companies requesting registration as a surplus lines company must:

Submit a letter to the Department requesting surplus lines status.
Maintain capital and surplus of $15,000,000 or higher.
Submit a copy of its current certified annual statement. For alien insurers, the annual statement must have foreign currency restated in U.S. dollars.
Submit a brief description of its reinsurance program.
Submit a plan of operations, including the amount and type of business to be written in North Carolina.
Submit a copy of its Certificate of Authority from the domiciliary state.
Submit a nonrefundable application fee. (Schedule of Fees)

Alien insurers (those insurers residing outside the United States) wishing to be an eligible surplus lines company must report a trust fund on deposit in a United States financial institution for the protection of all of its policyholders in the United States. This trust fund is to consist of cash, securities, letters of credit or other authorized investments and shall have an expiration date of not less than five years. Alien insurers must also be listed in the latest NAIC Quarterly Listing of Alien Insurers to be considered for registration.

Renewal Application

Every eligible surplus lines carrier that is registered in North Carolina must submit a renewal application and pay a nonrefundable renewal fee by January 1 each year in order to retain registration.

Surplus Lines Companies

List of registered surplus lines companies in North Carolina

Questions concerning surplus lines insurers or the application process can be directed to:

Scott Wicker
Company Admissions Manager
919-807-6142
scott.wicker@ncdoi.gov