What is NOT required in the record kept by a surplus lines broker?

In the context of surplus lines brokers, the records they maintain must comply with specific regulatory standards that focus on key components of the insurance contracts they handle. The effective date of the contract, gross premiums charged, and the name and address of the insured are all critical pieces of information that reflect the terms and financial aspects of the policies being placed.

The effective date indicates when coverage begins; gross premiums charged are crucial for understanding the financial commitments involved; and having the insured's name and address is fundamental for identifying the parties involved in the contract and ensuring proper communication and documentation.

Claims frequency history, while important in assessing risk and conducting underwriting, is not a mandatory part of the records that a surplus lines broker is required to keep. This information may be helpful for the broker or the insurer in evaluating the overall performance of a specific line or coverage, but it does not form a part of the essential documentation required by law for every contract. Instead, it serves more as an internal resource or reference for underwriting decisions rather than a regulatory necessity.