Excess lines broker

{
  "id": "MLC-T-INS-001374",
  "term": "Excess lines broker",
  "field": "Insurance and risk management",
  "definition": "A specialized insurance broker who places coverage with non-admitted insurers in the excess and surplus lines market. These brokers handle risks that standard insurers decline due to their unique nature, high hazard, or capacity requirements. They must be licensed to operate in this specialized market and adhere to specific state regulations regarding diligent efforts to find coverage in the admitted market.",
  "url": "https://mlchart.com/terminology/insurance/excess-lines-broker/"
}