MONTANA AMENDS EXPANDS SURPLUS LINES STATUTE
Effective February 25, 2015, Montana’s surplus lines law, Section 33-2-301 and 33-2-302, M.C.A., (the “Surplus Lines Insurance Law”) was expanded to authorize natural disaster multi-peril insurance to be sold as surplus lines insurance in the State of Montana. House Bill 94, passed by the 64th Montana Legislature and signed into law, expanded the Surplus Lines Insurance Law to include natural disaster multi-peril insurance, a new type of insurance defined by House Bill 94 as “any bundled flood, earthquake, and landslide insurance.”
This post written by Kelly A. Cruz-Brown.
See our disclaimer.
