Regulatory Facts

• Guam Law Applies To Federal Contracts On Guam

• Guam's Insurance Commissioner is a member of the National Association of Insurance Commissioners (NAIC), with regulatory authority similar to stateside insurance commissioners.

• Admitted Insurance — including all classes of insurance and surety - is mandatory unless not available through admitted carriers. See Title 22 Section 15101 Guam Code Annotated (Authority of Insurer).

• Representing or placing insurance with unauthorized insurers is prohibited. An unauthorized insurer cannot defend in Guam's courts. See Title 22 Section 15201 Guam Code Annotated Article 2 (Uniform Unauthorized Insurers Act).

• An insurance company cannot write direct business. It must appoint a resident general agent who is licensed to be its representative.