What is the primary purpose of a surplus lines broker in Georgia?

The primary purpose of a surplus lines broker in Georgia is to facilitate insurance coverage with non-admitted insurers. Surplus lines brokers specialize in placing insurance coverage where standard insurance markets do not offer adequate solutions. This typically occurs for risks that are considered too high or unusual by traditional insurers. As a result, surplus lines brokers have the ability to secure coverage from non-admitted insurers, which are not licensed to do business in Georgia but can offer unique policies that address specific needs of clients.

By placing risks with non-admitted insurers, surplus lines brokers help ensure that businesses and individuals can obtain necessary insurance, even when standard market options are limited or unavailable. This role is critical in providing access to a broader range of insurance products and solutions, allowing clients to properly protect themselves against potential risks. In summary, the function of surplus lines brokers is crucial in the insurance market, especially for specialty or hard-to-place risks.