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 carriers are regulated in their domiciliary jurisdictions and must be eligible under federal and California law before business can be placed with them (exported to them).Additionally, the surplus line broker in California is licensed and regulated directly by the California Department of Insurance (CDI).

  • 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

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

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

  • Excess Insurance shall not apply to any insurance coverage currently held by The Government of Bermuda, or to our Self-Insured Retentions of whatever nature.