Which document outlines the specific terms and conditions of a surplus lines insurance policy?

In the context of surplus lines insurance, the policy itself is the document that outlines the specific terms and conditions. This comprehensive document provides detailed information about the coverage offered, including what risks are insured, the limits of liability, deductibles, exclusions, and any special provisions that may apply. It serves as the formal agreement between the insurer and the insured, detailing the legal obligations and rights of both parties.

Endorsements are used to modify the terms of the existing policy, adding or changing coverage but do not encompass the full range of the original conditions. The application is the document completed by the insured when requesting coverage, typically containing personal information and details about the desired insurance, but it does not define the terms of coverage itself. The proposal, similar to the application, presents terms and potential coverages but is not a binding contract. Hence, the policy is the authoritative source for the specifics of the coverage provided under surplus lines insurance.