Get Montana Surplus Lines Submission Form - Sis Insurance ...

Surplus lines insurance is a special type of insurance that covers unique risks. It fills a gap in the standard market by covering things that most companies can't or won't insure.

Surplus lines insurance protects against a financial risk that a regular insurance company will not take on. Surplus lines insurance policies are available in a variety of types for both individuals and businesses. Surplus lines insurance is generally more expensive than regular insurance because the risks are higher.

Capital and Surplus means the amount by which the value of all of the assets of the captive insurance company exceeds all of the liabilities of the captive insurance company, as determined under the method of accounting utilized by the captive insurance company in ance with the applicable provisions of this ...

The licensed surplus lines broker is responsible for ensuring the surplus lines insurer meets eligibility criteria to write policies in the state and remits payment of the surplus lines premium tax to the “home state.” Surplus lines brokers and producers must be licensed to sell surplus lines insurance.

While E&S insurance is sold by licensed insurance agents in your state, the insurance carrier that offers the policies themselves is not licensed within your state. This gives a surplus lines insurer greater flexibility to place risks that are more difficult to cover through the ordinary insurance market.

A surplus share treaty is a reinsurance agreement whereby the ceding insurer retains a fixed amount of an insurance policy's liability while the remaining amount is taken on by a reinsurer. When engaging in a reinsurance treaty, the insurer shares its risks and premiums with the reinsurer.

A: Every surplus line broker must make an annual state tax filing. The amount of state tax is 3% of the California taxable surplus line premium transacted by the broker, for California home state insureds, from January 1st to December 31st of the previous year.