An admitted insurer is licensed to do business in the state or country in which the insured...
surplus lines insurance
Surplus lines insurance refers to coverage lines that need not be filed with state insurance departments as a condition of being able to offer coverage.
Additional Information
The types of risks typically insured in the surplus lines insurance markets can usually be categorized as risks with adverse loss experience, unusual risks, and those for which there is a shortage of capacity within the standard market.
Synonyms
nonadmitted policy
Related Terms
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