surplus line

adjective

Legal Definition of surplus line

: of, relating to, or being insurance provided by a company not authorized to do business in the state except through a specially licensed broker

Note: Surplus line insurance can only be purchased if efforts to acquire suitable insurance from authorized companies are unsuccessful.

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Cite this Entry

“Surplus line.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/surplus%20line. Accessed 16 Feb. 2020.

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