Due to the unique needs of our clients, we write policies with Surplus Lines / Non-Admitted Carriers. The excess and surplus lines, or non-admitted market is comprised of property and casualty companies that provide insurance that is unavailable to businesses in the standard or admitted market ...
What Is Aggregate Stop-Loss Insurance? Aggregate stop-loss insurance is a type of insurance that is designed to protect employers with a self-funded insurance plan. Specifically, it protects them from payouts for claims that are higher than anticipated. It is usually added to any employer insuran...
If you run into trouble and need help with a non-admitted insurance policy, you should always start by asking your broker or agent. If that fails, you contact thestate insurance commissioner's office. If they are able to assist you, they may refer you to the state surplus lines office....
A non-admitted insurance carrier has not been licensed and is not regulated by the state’s department of insurance. Instead, these carriers, also known as excess and surplus insurance carriers or surplus lines insurance carriers, are regulated by the state’s surplus lines office, although t...
Surplus Lines A“surplus lines” insurer is also called an “excess lines” or “non-admitted” insurer. Surplus lines companies face much less regulatory scrutiny than standard lines companies do. They are not regulated by a state’s insurance department but, instead, by a state’s surplus li...
Surplus line insurance covers properties with unique risks that traditional carriers "can't or won't insure," according to theTexas Department of Insurance. Typically a state will allow a surplus line company, like Lloyd's of London or Berkshire Hathaway, to operate in its borders while unlicens...
A Single Premium Immediate Annuity (sometimes referred to as an "SPIA") may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time. The annuity is purchased from an insurance company ...
An admitted insurance company is one that is licensed and authorized by the state insurance department to conduct business within that state. On the other hand, a non-admitted insurance company, also known as surplus lines insurers, operates outside of state regulations and is not required to fo...
the surplus lines insurer must have a license in the state where it is based, and the brokers who sell surplus lines insurance must be licensed in their own state.
Non-admitted carriers are usually referred to as "surplus lines" or "excess lines insurers." Purchasing insurance from a non-admitted carrier may seem riskier, but non-admitted status is just one way to gauge financial reliability. Case in point: insurance companies receive financial strength ratin...