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The Mississippi Department of Insurance has issued a bulletin announcing that the Mississippi Legislature passed House Bill 447, which removed the diligent search requirement an insurance producer must perform before placing a risk in the surplus lines market. House Bill 447 also requires the surplus lines producer to furnish an informational notice to the insured in conjunction with any personal lines placement.
The provisions of the Bulletin shall apply to surplus lines policies that are quoted or bound on and after July 1, 2017.
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