(1) If a surplus lines risk has been assumed by an unauthorized insurer under this subchapter and the premium has been received by the surplus lines broker who placed the insurance, the insurer shall be deemed to have received the premium due to it for the coverage.
(2) The insurer shall be liable to the insured for: Losses covered by the insurance; and
(3) Unearned premiums that may become payable to the insured upon cancellation of the insurance.
(4) Each unauthorized insurer assuming a surplus lines direct risk under the insurance laws of this state shall be deemed to have subjected itself to the terms of this section.
(5) This section shall not deprive the surplus lines insurer of any right of action against the surplus lines broker.