What is Surplus Lines Insurance?

WHAT IS EXCESS AND SURPLUS LINES INSURANCE?

Excess and Surplus lines insurance is a segment of the insurance market that allows consumers to buy property and casualty insurance through the state regulated insurance market, where policyholders, agents, brokers, and insurance companies all have the ability to design specific insurance coverages and negotiate pricing based on the risks to be insured.

WHAT IS SURPLUS LINE COVERAGE?

Surplus insurance coverage, also known as excess insurance coverage, enables insurance purchasers to obtain insurance policies that are unavailable through standard insurance carriers, also known as admitted insurance carriers. Surplus lines insurance policies are sold by surplus lines brokers. Surplus lines brokers can place certain risks with surplus lines carriers after the risks have been rejected by the standard carriers.

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