Get the free Approved Surplus Lines Companies - archives lib state ma

This document lists companies approved for surplus lines insurance in Massachusetts as of September 1, 2013. It provides details such as company names, addresses, phone numbers, and NAIC numbers.

How to fill out approved surplus lines companies

How to fill out Approved Surplus Lines Companies

1. Obtain a list of approved surplus lines companies from the relevant insurance regulatory authority.
2. Review the guidelines for filling out the application or form for your state's surplus lines.
3. Gather all necessary information about the surplus lines companies you intend to list, including their names, license numbers, and other relevant details.
4. Accurately fill out the required fields in the form, ensuring all information is current and complete.
5. Double-check for any specific requirements unique to your state, such as additional documentation or signatures.
6. Submit the completed form to the appropriate regulatory authority in a timely manner, adhering to submission deadlines.

Who needs Approved Surplus Lines Companies?

1. Insurance brokers and agents who want to place business in non-standard or high-risk markets.
2. Businesses requiring specialized coverage that standard insurers do not provide.
3. Individuals and organizations looking for coverage that isn’t available through traditional insurance channels.

People Also Ask about

Is surplus line insurance more expensive?

Surplus lines insurance protects against a financial risk that a regular insurance company will not take on. Surplus lines insurance policies are available in a variety of types for both individuals and businesses. Surplus lines insurance is generally more expensive than regular insurance because the risks are higher.

Under which circumstances would you need surplus line coverage?

Surplus lines insurance is a type of alternative coverage. It applies when an insured's primary insurance company turns down a claim or imposes excessive premium increases. The amount of coverage available depends on the amount of risk the insurer is willing to take on.

Is E&S the same as surplus lines?

Surplus lines insurance protects against a financial risk that a regular insurance company will not take on. Surplus lines insurance policies are available in a variety of types for both individuals and businesses. Surplus lines insurance is generally more expensive than regular insurance because the risks are higher.

Why would a customer purchase surplus line insurance?

Surplus lines insurers are able to cover unique and hard-to-place risks. Because, as non-admitted insurers, they can react to market changes and accommodate the unique needs of insureds who are unable to obtain coverage from admitted carriers.

Why would someone place their insurance with a surplus lines broker?

Surplus Lines Carriers provide a market of last resort for risks that: (1) admitted insurers (i.e., insurers holding a certificate of authority to transact business in the state where a risk is located) (“Admitted Carriers”) are unwilling to underwrite, or (2) a state has determined are generally unavailable from

What are the disadvantages of surplus lines insurance?

Excess and Surplus Lines — also known as “E&S” — insurance is designed for businesses with uniquely high risks that the traditional insurance market will not cover. The types of businesses that may need excess and surplus lines are in industries like construction, building, roofing, and commercial transportation.

Is surplus line insurance more expensive?

The laws of most U.S. jurisdictions require that a surplus lines insurer be deemed “eligible” by meeting certain financial criteria or by having been designated as “eligible” on a state-maintained list. Before the NRRA, state eligibility standards varied widely from state to state.

For pdfFiller’s FAQs

What is Approved Surplus Lines Companies?

Approved Surplus Lines Companies are insurers that are authorized to provide coverage for risks that are not available in the standard insurance market, typically for non-standard or unique risks.

Who is required to file Approved Surplus Lines Companies?

Surplus lines brokers are required to file Approved Surplus Lines Companies with the appropriate regulatory body to report the insurance placements they have arranged.

How to fill out Approved Surplus Lines Companies?

To fill out Approved Surplus Lines Companies, one must provide detailed information about the insured, the insurance coverage being placed, the insurer, and any applicable fees or taxes.

What is the purpose of Approved Surplus Lines Companies?

The purpose of Approved Surplus Lines Companies is to ensure that policyholders have access to necessary insurance coverage for unusual or high-risk situations and to regulate the surplus lines market.

What information must be reported on Approved Surplus Lines Companies?

The information that must be reported includes the name of the insurer, details of the coverage, premiums paid, the insured's name and address, and any relevant policy numbers.