Excess + Surplus
Excess and Surplus (E+S) lines insurance protects against a financial risk that is too high for a regular insurance company to take on. Surplus line insurance can be used by companies or purchased individually. Unlike normal insurance, this insurance can be bought from an insurer not licensed in the insured’s state. However, the surplus lines insurer requires a license in the state where it is based.
- 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 classifications for both individuals and businesses.
- Surplus lines insurance is generally more expensive than regular insurance because the risks are higher.