CA AB1641

Authorizes the Insurance Commissioner to exempt new, innovative insurance products from surplus line placement requirements if a reasonable market among admitted insurers has not yet developed, in addition to existing exemptions for unavailable coverage types.

Allows additions to the export list of exempt coverages to be made after a hearing, which may occur one or more times per year as deemed necessary by the commissioner.

Requires the surplus line advisory organization to pay costs for a maximum of two public hearings per year held by the commissioner pursuant to these provisions.

Deems members of the National Association of Registered Agents and Brokers who are licensed as surplus line brokers in their home state and pay applicable California license fees to be members of the surplus line advisory organization, effective upon written recognition by the advisory organization.