What is required on any policy issued by a surplus lines licensee?

The correct answer emphasizes the importance of consumer rights and legal recourse when dealing with surplus lines insurance. A policy issued by a surplus lines licensee must include a provision regarding the right to sue the insurer, ensuring that policyholders are informed that they have the ability to seek legal action against the insurer if necessary. This provision serves as a critical safeguard for policyholders, providing them with the assurance that they have options should a dispute arise.

In the context of surplus lines, where coverage may be for unique, high-risk situations that traditional insurers may not cover, this right to sue provision is essential. It empowers policyholders by laying out the legal framework available to them in the event of a claim denial or other grievances. Thus, it reinforces the transparency and accountability expected in insurance contracts.

Other options do not carry the same regulatory requirement. For instance, while federal laws might apply in some contexts, a statement asserting compliance with them isn't typically mandated within the policy. Similarly, a statement of net premium rates or a standard disclaimer about risks, while potentially relevant in certain scenarios, do not hold the same legal significance and protection for the policyholder as the inclusion of a right to sue provision does.