excess and surplus (E&S) lines insurance
Any type of coverage that cannot be placed with an insurer admitted to do
business in a certain jurisdiction. Risks placed in excess and surplus lines
markets are often substandard as respects adverse loss experience, unusual,
or unable to be placed in conventional markets due to a shortage of capacity.
Captives sometimes qualify as E&S companies. Hefty local premium taxes are payable
by the broker.