MS HB888

Extends the repeal date of Section 83-34-4 from July 1, 2018 to July 1, 2021, maintaining the nonadmitted policy fee requirement for surplus lines insurance producers.

Requires all surplus lines insurance producers placing insurance through nonadmitted insurers to collect and remit a 3% nonadmitted policy fee on total policy premiums to the Mississippi Windstorm Underwriting Association.

Exempts residential earthquake and residential flood insurance policies (not written through the National Flood Insurance Program) from the nonadmitted policy fee requirement.

Specifies that nonadmitted policy fees must be remitted to the association within 20 days of the end of each quarter and may be used for education, public outreach, and training programs to reduce policies within the association.

Effective July 1, 2018.