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Florida Surplus Lines Contributes to the State's Market Stability and Economy

Surplus lines insurance -- also referred to as Excess and Surplus lines or the non-admitted market -- has been in existence since the early 1800s.

By Irvin "skip" Wolf III | Updated on March 31, 2010

Surplus lines insurance — also referred to as Excess and Surplus lines or the non-admitted market — has been in existence since the early 1800s. It is a segment of the insurance market that provides coverage for the unique, unusual, or high-hazard account, be it commercial or personal lines. The most recognized carrier providing surplus lines coverage in Florida is Underwriters at Lloyd’s, although there are many other E&S carriers doing business here today.

The surplus lines market acts as a complement to standard insurance carriers licensed by the Florida Office of Insurance Regulation (OIR). It is not a market of last resort such as the auto or workers’ compensation assigned risk plans. E&S carriers provide a much needed outlet for insurance buyers who present a more challenging type of risk to the insurance market. They are willing to underwrite and accept difficult risks that standard carriers will not consider. As entrepreneurs, they do this voluntarily and look to produce an underwriting profit.

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