What is the Definition of Excess And Surplus Lines?

What is the Definition of Excess And Surplus Lines?

Property/casualty coverage that isn’t available from insurers licensed by the state (called admitted insurers) and must be purchased from a nonadmitted carrier.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Excess And Surplus Lines?

What is the Definition of Excess And Surplus Lines?

You can find random definition and meaning of insurance terms below:


Meaning of Structured  Settlement in Insurance Terms

Legal agreement to pay a designated person, usually someone who has been injured, a specified sum of money in periodic payments, usually for his or her lifetime, instead of in a single lump sum payment. (See Annuity)


Meaning of Subrogation in Insurance Terms

The legal process by which an insurance company, after paying a loss, seeks to recover the amount of the loss from another party who is legally liable for it.


Meaning of Substandard Premium Rates in Insurance Terms

The premium rates charged insureds who are classified as substandard risks. Also known as special class rates.


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