Surplus Lines Broker,
What Does Surplus Lines Broker Mean?
Brokers are licensed to insure with illegal insurers (unlicensed insurance in some states). Overline insurance companies can purchase coverage through a range broker if the broker is licensed in the state in which the coverage was obtained. General risk is generally lower risk in a region supported by overline brokers (e.g., risk of a catastrophic loss), unusual risk in a supported market, and a risk of capacity constraint.
A simple definition of Surplus Lines Broker is: Overline brokers are insurance professionals who sell insurance policies to insurance companies outside the states where they operate. You often consult with insurance agents and do not contact the person trying to sign the policy directly.
It is allowed to sell surplus line from one state to another. The surplus is responsible for collecting and paying premium taxes from unauthorized companies sold by insurance companies. Responsible for customers if the excess insurance line does not cover the claim
Literal Meanings of Surplus Lines Broker
Meanings of Surplus:
When the demand is met, the quantity of something remains when the demand for more production or supply exceeds the demand.
Excessive or excessive
Sentences of Surplus
Food export surplus
Maximize your extra cash flow
Synonyms of Surplus
excess, profusion, glut, superabundance, surfeit, additional, plethora, oversufficiency, oversupply, left, leftover, overabundance, spare, remaining, extra, excessive, reserve, in excess, unused, superfluity
Meanings of Lines:
Stand or take breaks all the time.
Mark or cover with a line
A long, narrow mark or line
A piece of rope, rope, wire or other material used for a specific purpose.
Horizontal lines of written or printed words.
A series of people or things.
Activity field or field.
A series of field research or related military defenses against enemy forces.
Sentences of Lines
A procession full of people waving flags
Deep lines mark your face
A series of dots at close distances looks like a solid line
Lily tied the cloth to the rope
Move the cursor over a line and press the delete key
A line of jobs runs along the corridor
Specific limits of your profession
Attack behind enemy lines
Polyethylene lined basket
Synonyms of Lines
furrow, skirt, filament, crease, hem, field, interlined, day job, business, pursuit, front, pucker, calling, front line, border, bound, fringe, job, profession, rule, walk of life, score, cord
Meanings of Broker:
Organized or negotiated (an agreement, contract or plan)
People who buy and sell goods or assets to third parties.
Sentences of Broker
Fighting continues despite efforts to negotiate a ceasefire
Central lenders operate through brokers.
Synonyms of Broker
bring off, broker-dealer, clinch, hammer out, settle, bring about, orchestrate, dealer, arrange, work out, organize, agent, trafficker, thrash out, contract, pull off, negotiator