Section 6303. Limitations

(a) The exemption which may be granted pursuant
  to this article shall apply only if the  business  is  underwritten  and
  transacted  from  an  office  within  this  state;  and (i) the risk, as
  defined in regulations of the superintendent, produces a minimum  annual
  premium  in excess of one hundred thousand dollars or such higher amount
  as the superintendent may prescribe by regulation; or (ii) the  coverage
  is  for  a  risk or class of risks which is of an unusual nature, a high
  loss hazard, or difficult to place, pursuant to a  list  promulgated  or
  amended by the superintendent.
    (b)  All  policies  issued  pursuant to the provisions of this article
  shall contain a notice to the policyholder that the rate and policy form
  are not subject to the filing requirements of this state and such  other
  notices required by the superintendent pursuant to regulation.
    (c)  The superintendent may by regulation prescribe limitations on the
  total amount of business which an insurer may transact pursuant to  this
  article.