Excess and surplus lines insuranceare also known as the E&s life insurance. This type of insurance, you can buy the property which had not been regulated by the state insurance. In the E&S policy, the policyholder, the agency and the broker had all the ability to make rule and regulation of the policy. They can include the coverage of the insurance. The Excess and the surplus life insurance had two different meanings.
What do you mean by excess and surplus insurance?
As the name suggests that excess and the surplus insurance had two different types.
The meaning of the original surplus line insurance is that it’s a type of insurance policy. In which it protects from the suddenly and the highly occurring financial risk. This type of policy is being introduced in that time in which the insurance company also can’t hold and solve the risk. As been mentioned above that this type of insurance policy is not as same as the regular insurance.
In excess line insurance is a type of policy which is used to protect from the suddenly occurring hazards. This policy is been applied at that time when there is an excess hazard and can’t be handled by the state insurance or by the regular company insurance.
This type of excess and surplus insurance is occurring mainly in the same suddenly occurring hazardous condition. Which is been not controlled normally by the regular insurance company. In the other words, these two are particularly similar.
Who are the carriers of the E&S insurance?
As been mentioned above that E&S Insurance policy is not the policy being done by the regular insurance company? So there are some of the carriers of the Excess and surplus insurance and they are:
• Ace American insurance company
• Admiral insurance company
• Indian Harbor insurance company
• Insurance company in the west
• James river insurance company