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Surplus Lines Insurance

By Ralph S. Hubbard III and Joseph P. Guichet
September 07, 2003

Part 1 of a 2-part series

Surplus lines business is booming. Last year, California witnessed an astounding 104.5% increase in surplus lines premium totals from 2001, according to the Surplus Lines Association of California. Other states also saw the number of surplus lines policies issued in their state soar.Yet many corporate representatives and coverage attorneys are unfamiliar with this rapidly growing niche within the insurance industry. Whether you are placing insurance for your employer or serving as counsel for an insurance-related client, it is imperative that you possess a good understanding of the role surplus lines insurers play in the insurance industry and how the states regulate the surplus lines market.

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