What type of professional typically handles surplus lines placements?

Licensed surplus lines brokers or agents are specifically trained and authorized to handle surplus lines placements. These professionals operate in a specialized realm of the insurance industry that involves securing coverage for risks that typical insurance markets may not be able to underwrite due to various reasons, such as the nature of the risk being too unique or high-risk.

Surplus lines brokers must be knowledgeable about both state regulations and the excess and surplus lines market to effectively assist clients in obtaining the necessary coverage. They have access to non-admitted insurers, which means they can place risks with companies that are not licensed in the state where the risk resides, providing flexibility in finding coverage solutions that meet specific client needs.

This role is critical in scenarios where businesses face unusual or high-risk situations, ensuring they have access to appropriate insurance products. The expertise and licensing of surplus lines brokers or agents are essential for navigating the complexities involved with surplus lines insurance.