Surplus Lines
Surplus Lines is a special type of insurance that covers unusual or high-risk situations that regular insurance companies typically won't handle. Think of it as a safety net for businesses or individuals who can't get standard insurance coverage. For example, if someone wants to insure a skydiving company or a building in a very high-risk flood area, they might need surplus lines insurance. These policies are usually handled by specialized insurance brokers who have specific licenses to deal with this type of coverage. Other common names for this include "excess lines insurance" or "specialty lines insurance."
Examples in Resumes
Managed Surplus Lines placements for high-risk commercial properties
Licensed Surplus Lines broker handling excess and specialty coverage
Processed Surplus Lines filings and tax payments for multiple states
Experienced with Excess Lines placement for difficult-to-insure risks
Specialized in Specialty Lines insurance solutions for complex risks
Typical job title: "Surplus Lines Brokers"
Also try searching for:
Where to Find Surplus Lines Brokers
Professional Associations
Job Boards
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How do you handle complex surplus lines placements for difficult-to-insure risks?
Expected Answer: Should demonstrate knowledge of market relationships, negotiation skills with carriers, understanding of different state regulations, and ability to structure creative solutions for challenging risks.
Q: Explain your experience with surplus lines compliance and tax filings across multiple states.
Expected Answer: Should show understanding of different state filing requirements, tax calculations, compliance deadlines, and experience managing these processes for multiple jurisdictions.
Mid Level Questions
Q: What's your process for determining if a risk needs to go to the surplus lines market?
Expected Answer: Should explain how to evaluate risks, document standard market declinations, and identify when surplus lines placement is appropriate.
Q: How do you explain surplus lines coverage to clients who are unfamiliar with it?
Expected Answer: Should demonstrate ability to communicate complex insurance concepts in simple terms and explain the benefits and limitations of surplus lines coverage.
Junior Level Questions
Q: What is the difference between admitted and non-admitted carriers?
Expected Answer: Should be able to explain that admitted carriers are licensed by the state and backed by state guaranty funds, while non-admitted carriers have more flexibility in rates and forms but less state protection.
Q: What are the basic requirements for placing a surplus lines policy?
Expected Answer: Should know about getting declinations from standard markets, proper documentation requirements, and basic filing procedures.
Experience Level Indicators
Junior (0-2 years)
- Basic understanding of insurance terms
- Filing assistance and documentation
- Processing policy paperwork
- Basic client communication
Mid (2-5 years)
- Independent risk evaluation
- Market negotiations
- Policy form analysis
- State compliance management
Senior (5+ years)
- Complex risk placement
- Team leadership
- Market relationship management
- Strategic program development
Red Flags to Watch For
- No surplus lines license or inability to obtain one
- Lack of understanding of basic insurance concepts
- No experience with compliance requirements
- Poor attention to detail in documentation
- Limited knowledge of state insurance regulations
Related Terms
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