Form E-700 Certificate of Surplus Lines Broker - Arizona

What Is Form E-700?

This is a legal form that was released by the Arizona Department of Insurance and Financial Institutions - a government authority operating within Arizona. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the Form E-700 Certificate of Surplus Lines Broker?A: The Form E-700 Certificate of Surplus Lines Broker is a document used in the state of Arizona to certify that an individual or company is licensed to act as a surplus lines broker.

Q: What is a surplus lines broker?A: A surplus lines broker is an insurance professional or company that specializes in placing coverage with non-admitted insurance carriers for risks that cannot be placed with admitted insurance companies.

Q: Why do I need a Form E-700 Certificate of Surplus Lines Broker?A: You need a Form E-700 Certificate of Surplus Lines Broker to legally conduct surplus lines insurance business in the state of Arizona.

Q: Who can apply for a Form E-700 Certificate of Surplus Lines Broker?A: Any individual or company that meets the requirements set by the Arizona Department of Insurance can apply for a Form E-700 Certificate of Surplus Lines Broker.

Q: How do I apply for a Form E-700 Certificate of Surplus Lines Broker?A: To apply for a Form E-700 Certificate of Surplus Lines Broker, you need to submit an application to the Arizona Department of Insurance, along with all required supporting documentation and fees.

Q: How long is a Form E-700 Certificate of Surplus Lines Broker valid for?A: A Form E-700 Certificate of Surplus Lines Broker is valid for one year from the date of issuance.

Q: Can a surplus lines broker operate in multiple states with a single Form E-700 Certificate?A: No, each state has its own requirements for surplus lines brokers, and you will need to obtain a separate certificate for each state in which you want to operate.

Q: What happens if my Form E-700 Certificate of Surplus Lines Broker expires?A: If your Form E-700 Certificate of Surplus Lines Broker expires, you will need to renew it by submitting a new application and paying the required fees before you can continue to conduct surplus lines insurance business in Arizona.

Q: Can I transfer my Form E-700 Certificate of Surplus Lines Broker to another individual or company?A: No, a Form E-700 Certificate of Surplus Lines Broker is non-transferable and can only be used by the individual or company to whom it is issued.

Q: What are the consequences of operating as a surplus lines broker without a valid Form E-700 Certificate?A: Operating as a surplus lines broker without a valid Form E-700 Certificate is a violation of Arizona insurance laws and can result in penalties and legal consequences.