surplus line

adjective

: 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.

Dictionary Entries Near surplus line

Cite this Entry

“Surplus line.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/surplus%20line. Accessed 7 Oct. 2024.

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