 I'm filing a homeowner's insurance claim for stuff that was stolen from my car...? |
| They ask me to include my charge account number and type...I'm not entirely comfortable doing this. I know they're a legitimate company and everything, but can they just go into my credit ... |
|
 Does the US have a hospital problem? |
| I heard the waiting rooms in all US hospitals are full of dangerous people and you have to wait hours for ... |
|
 Life insurance questions? please help? |
| my dad had life insurance through his work and paperwork was filed before he passed but not completed because he was expected to live a lot longer than he did. His will went unfinished and he did not ... |
|
 Someone owes me money, can I have a life insurance policy on that person without that person"s permission? |
| My ex boyfriend owes me a large sum of money , if anything happened to him then I would not get the money owed to me.... |
|
 When You Ask for Medical at the Welfare office? |
| When you collect Medical For 6 years Do they collect money from Childs father.For all those you where on medical?& make them provie you with Health care?... |
|
 Is there a life insurance policy that allows for payment before death? |
| I heard this one a financial channel but I can't find any information on it. Any insurance experts out there? Can you guide me to a website?... |
|
 What auto insurance company has cheap rates for adding a 16 year old first-time driver to an insurance plan? |
| We live in Florida, and my son has just turned 16, He wants to get his licenses but we don't want our insurance to go up too much. From what I hear it is very expensive, yet i hear other people ... |
|
 Do bad debts get deducted from life insurance premium's? |
| My parents want me to take out life insurance policies on them so I won't be burdened by funeral expenses and such. They both have a lot of debt and I was just wondering if this debt would be ... |
|
 What factors are considered for auto insurance? |
| I am trying to get an auto insurance. But when i went to an agent to get a quote, he told me that since i wasn't on somebody's policy for 3 years, my premium is going to be much more higher.... |
|
 What are my options for health insurance if I resign from my job due to not being paid for the last 4 months.? |
| I work for a small company and currently have health coverage through a plan with them. They have not paid their employees for approximately the last 4 months. If I resign because they are not ... |
|
 My bf's HOA continuously tows people for no reason.? |
| My bf and I have been dating for over 2 years. Within the past couple months visitors and members of his family have been getting towed continuously for no reason. The first time we picked up the ... |
|
 Life Insurance Question? |
| i had life insurance through my employer for over one year i got fired but before i got fired i made double my salary before i left when you have life insurance and it completely paid do you get what ... |
|
 Looking for health insurance, what's a good one? |
I'm going to be 22 soon. I don't smoke, never have. And I do have any pre-existing health conditions.
I was looking at a deductable around $500, but the monthly payments are like ... |
|
 My heath insurance company is getting sued? |
| Will my rates go up if they lose the lawsuit?... |
|
|  |
mitch | What is Surplus Lines (insurance)? |
|
 |
 
Faye H
 |
Surplus lines is coverage that must be purchased from a company that is not licensed by the state because it is not available through licensed companies. For example, surplus lines might be used when unusual coverage is needed but state-licensed companies cannot offer the coverage because the state either restricts them from offering such coverage or restricts them from charging the rates that such coverage would cost. |
|
mbrcatz
|
Each state regulates insurance companies that do business in their state. As long as they are licensed by the state, to sell insurance in that state, they are an "admitted" insurance company, subject to that state's rules & regulations.
Insurance companies who are NOT licensed by the state are NOT subject to that state's rules and regulations, and they are "non-admitted" carriers - also called surplus lines insurance. Because they aren't subject the state rules & regs, they are much more flexible with regards to what they can cover, BUT, there is usually a state "surplus lines tax" and "stamping fee" that you pay, in addition to the policy premium, along with an inspection fee.
Surplus lines isn't necessarily bad - but it is a flag that says you have to be more careful than with an admitted carrier. |
|
Sue
|
Surplus Lines insurance are policies with companies that are not admitted in the state which means that they don't have to abide by the State's rules that other companies have to use. If they go out of business, they are not covered by your State's guaranty fund, which will pay claims for an insurance company that becomes insolvent during your policy term. They can essentially cover & not cover what they want & charge whatever they want. They can exclude coverage for things that admitted companies cannot, such as animal liability (dog bites), off premises liability on a homeowners policy, They also charge state tax and policy fees. Most of them are financially sound (Lloyd's of London is one). They work with specialty brokers that deal in the surplus and excess market. Agents go to these markets when they cannot find coverage in the standard market. This may be due to claims history, condition of property, certain types of dogs, trampoline, old wiring in house, etc. If your agent is telling you to get coverage there, either try to change what is sending you there, or call around to see if another company will take you with your current situation, different companies have different guidelines for what they will take. |
|
ramon1972pr
 |
Property/casualty insurance coverage that isn’t available from insurers licensed in the state, called admitted companies, and must be purchased from a non-admitted carrier. Examples include risks of an unusual nature that require greater flexibility in policy terms and conditions than exist in standard forms or where the highest rates allowed by state regulators are considered inadequate by admitted companies. Laws governing surplus lines vary by state. |
|
ras
|
DO SURPLUS LINES ONLY EXIST IN STATES OR DO WE HAVE SOMETHING SIMILAR IN CANADA??? |
|
jinoturistica
 |
Insurance that isn't state regulated. |
|
hightechchic
 |
As has already been stated, surplus lines are insurance products that aren't regulated by the state.
For most types of insurance, in order to do business in a state, each company is required to specify contracts for specific product types and have them approved by the state.
Surplus lines are outside that process, usually because of the nature of the products offered. For instance, standard health insurance policies sold within a state to citizens of that state would need to be approved by the state in question; however, health insurance sold to non-US residents would not be regulated by the state (for obvious reasons.) |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
6 | 35 minutes(s) ago
| | | |
6 | 38 minutes(s) ago
| | | |
6 | 43 minutes(s) ago
| | | |
6 | 2 hour(s) ago
| | | |
7 | 3 hour(s) ago
| | | |
6 | 8 hour(s) ago
| | | |
6 | 1 day(s) ago
| | | |
6 | 2 day(s) ago
| | | |
6 | 3 day(s) ago
| | | |
6 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
