Surplus lines,
defined.
Surplus lines insurance is coverage placed with a non-admitted carrier when a risk cannot be insured in the standard, admitted market. Used for unusual, high, or hard-to-place risks, it is regulated differently from admitted insurance, is not backed by state guaranty funds, and is typically accessed through a surplus lines broker.
When surplus lines are used
When admitted carriers decline a risk, the agency turns to the surplus lines, or excess and surplus (E&S), market for capacity and flexible terms.
Surplus lines placements carry additional taxes and filings, and because the carrier is non-admitted, the protections of state guaranty funds generally do not apply.
Common questions
What is the difference between admitted and surplus lines insurance?
Admitted insurance is sold by carriers licensed in the state and backed by its guaranty fund. Surplus lines insurance is placed with non-admitted carriers for risks the standard market will not write, with different regulation and no guaranty-fund backing.
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