MS HB805

Extends the repeal date of Section 83-34-4 from July 1, 2019 to July 1, 2022, maintaining requirements for surplus lines insurance producers to collect and remit a nonadmitted policy fee to the Mississippi Windstorm Underwriting Association.

Requires all surplus lines insurance producers placing insurance through nonadmitted insurers to collect a 3% nonadmitted policy fee on total premiums, with exemptions for residential earthquake and non-NFIP flood risks.

Specifies that the nonadmitted policy fee is not considered premium, is not subject to premium taxes or commissions, but failure to pay is treated the same as failure to pay premium.

Requires surplus lines producers to remit collected fees to the association within 20 days of each quarter's end.

Takes effect July 1, 2019.