Which documentation must surplus lines brokers maintain for all placements?

Surplus lines brokers are required to maintain comprehensive documentation for all placements to ensure compliance with regulations and to provide adequate support for their transactions. This includes records of the diligent search conducted to find coverage in the admitted market before resorting to surplus lines. The diligent search is critical as it demonstrates that the broker has made reasonable efforts to secure coverage from licensed insurers.

Additionally, maintaining correspondence is vital to document communication with clients and insurers, providing clarity on the terms, conditions, and negotiations involved in placing the coverage. Finally, having the policy forms on file is necessary, as these documents detail the agreed-upon terms of insurance and are essential for legal and operational purposes.

Having all these pieces of documentation protects both the broker and their clients and ensures compliance with state regulations regarding surplus lines insurance. The other options do not encompass the full scope of documentation requirements, making the selected response the most comprehensive and accurate representation of the responsibilities of surplus lines brokers.