Who negotiates coverage on behalf of clients from an excess and surplus lines insurer?

The role of a surplus lines broker is specifically designed to negotiate coverage for clients seeking insurance from surplus lines insurers. Surplus lines insurers provide coverage for risks that standard insurers are unable or unwilling to insure, often due to the unique or high-risk nature of the coverage needs.

A surplus lines broker possesses specialized knowledge about these types of insurers and the markets in which they operate. They are adept at identifying suitable policies that meet the client’s needs while navigating the complexities associated with excess and surplus lines coverage. Their expertise is essential for ensuring that clients receive the appropriate insurance solutions that might not be available through traditional avenues.

In contrast, while an insurance broker and an independent agent might also assist clients in obtaining insurance, their focus is generally on standard markets. Claims adjusters, meanwhile, are involved in assessing claims after a loss has occurred, rather than in negotiating coverage at the outset. Thus, the surplus lines broker is the correct choice as they specialize in negotiating on behalf of clients with these specific types of insurers.