Principios Generales de SegurosPregunta 242 de 531
A commercial account with a difficult exposure is placed through surplus lines. Compared with an admitted insurer, the surplus lines insurer:
a.must still file every policy form with the insurance department
b.carries the same guaranty fund protection as a licensed insurer
c.is not licensed in the state, and its policy has no guaranty fund backing
d.is licensed, but files its rates through a different bureau
Explicación
A non-admitted insurer holds no certificate of authority in the state, so its policies fall outside the state guaranty fund and the insured bears the insolvency risk; in exchange it has far more freedom in rates and forms, which is what allows it to write hard-to-place exposures. Surplus lines placements are generally allowed only after a diligent search shows the admitted market has declined the risk.
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