True or False: Most state regulation prohibits the writing of an amount of insurance on any...

True or False: Most state regulation prohibits the writing of an amount of insurance on any on risk that exceeds 5% of surplus. True False

Expert Solution

True

Surplus line tax - 5% less return premium & exclusive of federal, state and local taxes.

An insurance written by the domestic surplus lines insurer will be subjected to the five percentage surplus line tax.

Therefore, the given statement is 'True'.

jeff jeffy answered 2 years ago

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