What type of insurance is commonly provided through surplus lines brokers?

Surplus lines brokers specialize in obtaining insurance for risks that standard insurance markets find too risky to underwrite. This typically includes high-risk property and liability coverage. These brokers have access to a variety of non-admitted insurers, which allows them to place coverage for specialized risks that may not be adequately covered by standard market policies.

High-risk categories can include unique properties, unusual liability exposures, or specialized industries that require tailored insurance solutions. For instance, businesses involved in activities that face higher chances of loss or injury may need coverage that conventional insurers are unwilling to provide, making surplus lines brokers essential in these scenarios. By navigating this niche, surplus lines brokers can find suitable coverage options that align with the specific needs of businesses operating in higher-risk environments.

In contrast, life insurance is generally underwritten in a more standardized manner and doesn't fall under the typical purview of surplus lines. Standard market coverage refers to the conventional insurance products that meet typical underwriting guidelines, while government-funded policies usually address specific risks or programs rather than the high-risk nature associated with surplus lines.