What is the definition of Excess and Surplus Lines?

Excess and Surplus Lines, when referred to in Insurance, refers to the protection provided for coverage that is not to be had from any of the insurers licensed to operate in the state. This kind of coverage (mainly casualty and property insurance) is usually bought through the state regulated insurance market.

For Excess and Surplus Lines, the insurance applicants (the clients), brokers, agents and insurance companies work to design insurance coverage specific to the needs of the client. The premiums for the coverage are negotiated, based on the kind of the risk to be secured.

Those who avail of Excess and Surplus Lines usually are not able to get it from a standard carrier because of a number of reasons - an unsatisfactory loss record, a risk that is not covered by standard carriers or an inadequate loss history.

• Reinstatement
• Registered Principal
• Liquor Liability
• Businessowners Policy (BOP)
• Directors and Officers Liability Insurance