Surplus line insurance definition

Surplus line insurance means insurance on a risk:
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Surplus line insurance means any property and casualty insurance permitted in a
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Examples of Surplus line insurance in a sentence

  • Surplus line insurance shall only be issued after the insured has procured insurance in companies admitted to do business in the Commonwealth to the full amount which the companies are willing to write on the property.

  • Surplus line insurance procured under this Section, including insurance procured from a domestic surplus line insurer, is not subject to the provisions of the Illinois Insurance Code other than Sections 123, 123.1, 401, 401.1, 402, 403, 403A, 408, 412, 445, 445.1, 445.2, 445.3, 445.4, and all of the provisions of Article XXXI to the extent that the provisions of Article XXXI are not inconsistent with the terms of this Act.(Source: P.A. 92-386, eff.

  • While the part ies stipulat ed that "PARENT [i.e., PARENT] ent e red into service agreement s to provide general services to each of the Surplus line insurance companies " (Stip.

  • Surplus line insurance is insurance on an Illinois risk of the kinds specified in Classes 2 and 3 of Section 4 of this Code procured from an unauthorized insurer or a domestic surplus line insurer as defined in Section 445a after the insurance producer representing the insured or the surplus line producer is unable, after diligent effort, to procure said insurance from insurers which are authorized to transact business in this State other than domestic surplus line insurers as defined in Section 445a.

  • WSR 91-23-032 (Order R 91-7), §284-15-080, filed 11/13/91, effective 1/1/92.] WAC 284-15-110 Surplus line insurance premium tax.

  • Surplus line insurance can be obtained either directly or through a surplus line broker, so long as the insurance satisfies certain criteria.If an insured obtains surplus line insurance through a surplus line broker, the broker is required to collect the gross premiums tax from the insured.

  • Surplus line insurance procured under this Section, including insurance procured from a domestic surplus line insurer, is not subject to the provisions of the Illinois Insurance Code other than Sections 123, 123.1, 401, 401.1, 402, 403, 403A, 408, 412, 445, 445.1, 445.2, 445.3, 445.4, and all of the provisions of Article XXXI to the extent that the provisions of Article XXXI are not inconsistent with the terms of this Act.

  • Surplus line insurance procured under this Section, including insurance procured from a domestic surplus line insurer, is not subject to the provisions of the Illinois Insurance Code other than Sections 123, 123.1, 401, 401.1, 402, 403, 403A, 408, 412, 445, 445.1, 445.2, 445.3, 445.4, and all of the provisions of Article XXXI to the extent that the provisions of Article XXXI are not inconsistent with the terms of this Act.(Source: P.A. 97-955, eff.

  • A recent Pew report indicated that more than 115,000 dental-related Emergency Department cases were reported in Florida in 2010.These dental-related visits produced more than $88 million dollars in charges to hospitals, most of which were uncompensated.

  • Surplus line insurance procured under this Section, including insurance procured from a domestic surplus line insurer, is not subject to the provisions of the Illinois Insurance Code other than Sections 123, 123.1, 401, 401.1, 402, 403, 403A, 408, 412, 445, 445a, 445.1, 445.2, 445.3, 445.4, and all of the provisions of Article XXXI to the extent that the provisions of Article XXXI are not inconsistent with the terms of this Act.(Source: P.A. 97-955, eff.

Related to Surplus line insurance

  • Franchise insurance means an individual insurance policy provided through a

  • Net Insurance Proceeds Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the express requirements of the Mortgage or Note or other Loan Documents included in the Mortgage File or in accordance with the Servicing Standard, or with respect to the environmental insurance policy, applied to pay any costs, expenses, penalties, fines or similar items; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Insurance Proceeds” under this Agreement shall be limited to any related Insurance Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Ocean marine insurance means insurance against loss of or damage to:

  • Casualty insurance means liability insurance.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Blanket insurance policy means a group policy covering a defined class of

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • Dental Insurance The District shall contribute $360.00 annually toward the cost of dental insurance whether for single or family coverage for full-status employees who qualify for and enroll in the plan. The cost of the premium not contributed by the District for family coverage shall be borne by the employee through payroll deduction.

  • Reimbursement insurance policy means a policy of insurance

  • Excess Insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.