Whenever we attend an industry trade show, we always get questions regarding surplus lines insurance licensing. It seems to be one of those topics that is misunderstood and yet vital to being able to write surplus lines insurance with non-admitted carriers. We thought it would be helpful to shed a little light on the topic of surplus lines insurance licensing.
A few things you need to know about surplus lines licensing:
- A surplus lines license is needed for both the surplus lines broker and agency in all states where you intend to write business.
- A majority of states also require a property and casualty license in addition to the surplus lines license.
- Most states require the surplus lines broker to pass a test before a resident surplus lines insurance license will be issued.
- At least one state requires a non-resident surplus lines applicant to test.
If you and your agency are expanding into the surplus lines market, your surplus lines insurance licenses need to be in place. Give Supportive Insurance Services a call and leave the worry of the surplus lines insurance licensing to the experts!