On Property Insurance Claim Tips Blog

Surplus Lines Insurance Claims - Your Coverage May be an Illusion

Surplus Lines Insurance Claims - Your Coverage May be an Illusion

A few years ago I was invited to speak at a conference of insurance professionals in Rhode Island.  My topic was surplus lines insurance which at that time was a very hot topic, at least in Florida as there was a pending Florida Supreme Court case that had it turned out different, could have changed the surplus market insurance scheme in a big way.  As it turned out due to the Court’s ruling, the surplus lines carriers preserved their unique market position and the world in this insurance community did not stop or even wobble. Having been retained recently on a couple of large commercial fire losses and getting reacquainted with some of the nuances of surplus lines, I thought now would be a good time to revisit this unique line of coverage with a couple of case studies that hopefully will shed light on some of the practical problems for policyholders if they happen to be insured by a surplus lines carrier.

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