Records of broker

1. Each broker shall keep in his or her office a full and true record of each surplus lines coverage procured by the broker for which this State is the insured’s home state, including a copy of each daily report, if any, a copy of each certificate of insurance issued by the broker, and such of the following items as may be applicable: (a) The amount of the insurance; (b) The gross premium charged; (c) The return premium paid, if any; (d) The rate of premium charged upon the several items of property; (e) The effective date of the contract, and the terms thereof; (f) The name and address of each insurer on the direct risk and the proportion of the entire risk assumed by that insurer if less than the entire risk; (g) The name and address of the insured; (h) A brief general description of the property or risk insured and where located or to be performed; and (i) Any other information as may be required by the Commissioner. 2. The record must not be removed from the office of the broker and must be open to examination by the Commissioner or a representative of the Commissioner at all times within 5 years after issuance of the coverage to which it relates.