surplus line

Definition of "surplus line"
  1. Refers to an insurance policy that is given by an insurance provider that is not licensed in the state to conduct business, with the exception of conducting business through a broker who has a special license
How to use "surplus line" in a sentence
  1. A homeowner obtained a surplus line insurance to cover risks not covered by licensed insurers in the state.
  2. Because it was complex to get coverage for the unique building, a surplus line insurer was used.
  3. The special risks involved in the construction project required a surplus line insurance provider.

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