Surplus Lines Insurance Market: Background and Analysis

Tory L. McCoy (Editor)

Series: American Political, Economic, and Security Issues
BISAC: BUS033000



Volume 10

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Edited by I Leslie Rubin, Robert J Geller, Abby Mutic, Benjamin A Gitterman, Nathan Mutic, Wayne Garfinkel, Claire D Coles, Kurt Martinuzzi, and Joav Merrick


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In general, insurance is a highly regulated financial product. Every state requires licenses for insurance companies, and most states closely regulate both company conduct and the details of the particular insurance products sold in the state. This regulation is usually seen as important for consumer protection; however, it also creates barriers to entry in the insurance market and typically reduces to some degree the supply of insurance that is available to consumers.

Rather than requiring consumers who may be unable to find insurance from a licensed insurer to simply go without insurance, states have allowed consumers to purchase insurance from non-licensed insurers, commonly called nonadmitted or surplus lines insurers. Although any sort of insurance could be sold by a surplus lines insurer, most such transactions tend to be for rarer and more exceptional property and casualty risks, such as art and antiques, hazardous materials, natural disasters, amusement parks, and environmental or pollution risks. This book discusses surplus lines insurance, and property and casualty insurance. (Imprint: Novinka )


Chapter 1 - Surplus Lines Insurance: Background and Current Legislation (pp. 1-10)
Baird Webel

Chapter 2 - Property and Casualty Insurance: Effects of the Nonadmitted and Reinsurance Reform Act of 2010 (pp. 11-60)
United States Government Accountability Office


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