MS HB328

Extends the repeal date of Section 83-34-4 from July 1, 2019 to July 1, 2022, continuing the nonadmitted policy fee requirement for surplus lines insurance.

Maintains the nonadmitted policy fee at 3% of total policy premiums collected by surplus lines insurance producers on insurance written through nonadmitted insurers.

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

Requires surplus lines insurance producers to remit collected nonadmitted policy fees to the association within 20 days of the end of each quarter.

Allows nonadmitted policy fee revenues to be used by the association for education, public outreach, and programs to reduce policies within the association.