Surplus Lines definition

Surplus Lines. For insurers subject to Chapter 48.15 RCW (Surplus Lines) a written notice shall be given to the director of purchasing or designee twenty (20) calendar days prior to cancellation or any material change to the policy(ies) as it relates to this Contract. Written notice shall include the affected Contract reference number.
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Surplus Lines means nonadmitted insurance sold to, solicited by, or negotiated with an insured whose home state is Kentucky.
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Surplus Lines means, per InsWeb Insurance glossary, a risk or a part of a risk for which there is no market available through the original broker or agent in its jurisdiction.
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Examples of Surplus Lines in a sentence

  • Required Insurance must be placed with licensed insurers admitted to transact business in the State of California with a current A.M. Best’s rating of A V or better, or, if insurance is placed with a surplus lines insurer, insurer must be listed on the State of California List of Eligible Surplus Lines Insurers (▇▇▇▇▇) with a current A.M. Best’s rating of no less than A X.

  • Surplus Lines insurance companies will have a rating of A-, Class VII, or better.

  • The above insurance shall be written by an insurer holding a current certificate of authority pursuant to chapter 624, Florida State or a company that is declared as an approved Surplus Lines carrier under Chapter 626 Florida Statutes.

  • Unless otherwise reviewed and accepted by the District, all required insurance must be placed with insurers with a current A.M. Best rating of not less than A- VII and admitted to do business in California, or approved by the Surplus Lines Association.

  • Unless otherwise acceptable to the District , all insurance is to be placed with insurers authorized to conduct business in California with a current A.M. Best’s rating of no less than A:VII, or approved by the Surplus Lines Association to do business in California.

  • On a case- by-case basis, the District may accept insurance written by a company listed on the State of California Department of Insurance List of Eligible Surplus Lines (“▇▇▇▇▇ List”) with a rating of A VIII or above as listed in Best’s Insurance Guides’ latest edition.

  • If insurance is placed with a surplus lines insurer, insurer must be listed on the State of California List of Eligible Surplus Lines Insurers (“▇▇▇▇▇”) with a current A.M. Best’s rating of no less than A X.

  • City will accept insurance provided by non-admitted, “surplus lines” carriers only if the carrier is authorized to do business in the State and is included on the List of Approved Surplus Lines Insurers (LASLI list).

  • The above insurance shall be written by an insurer holding a current certificate of authority pursuant to Chapter 624, Florida State or a company that is declared as an approved Surplus Lines carrier under Chapter 626 Florida Statutes.

  • If insurance is placed with a surplus lines insurer, insurer must be listed on the State of California List of Eligible Surplus Lines Insurers (▇▇▇▇▇) with a current A.M. Best’s rating of no less than A X.


More Definitions of Surplus Lines

Surplus Lines means nonadmitted insurance sold to, solicited by, or negotiated
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Related to Surplus Lines

  • Surplus Trees means all trees designated for cutting.

  • Surplus lines insurance means insurance in this State of risks located or to be performed in this State, permitted to be placed through a licensed broker with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stop‑loss insurance coverage upon group life, accident, and health insurance or upon a self‑insured’s life, accident, and health benefits program may be approved as surplus lines insurance.

  • Surplus lines insurer means a non-admitted insurer with which insurance coverage may be placed under this chapter.

  • Surplus Cash means, with respect to any period, any revenues of Borrower remaining after paying, or setting aside funds for paying, all the following:

  • Surplus funds means, at any given date, the excess of cash and other recognized assets that are expected to be resolved into cash or its equivalent in the natural course of events and with a reasonable certainty, over the liabilities and necessary reserves at the same date.