Under what condition may risk eligible for export be placed with an unlisted nonadmitted insurer?

The correct answer emphasizes the requirement for transparency and notification to the insured when placing a risk with an unlisted nonadmitted insurer. In Missouri, surplus lines regulations dictate that before entering into a contract with a nonadmitted (or unlisted) insurer, the surplus lines licensee must inform the insured that the insurer is not listed and therefore does not have the same level of financial security or regulatory oversight as admitted insurers. This notification must occur within twenty days to provide consumers with critical information about their coverage.

This condition serves to protect the insured by ensuring they are aware of the implications of their coverage and the standing of the insurer. The focus on notification is key, as it emphasizes the responsibility of the surplus lines licensee to keep the client informed about where their risk is being placed and the associated risks of doing so. This also provides the insured an opportunity to seek alternative coverage options if they prefer an admitted insurer.