what is a non-standard property/casualty insurance company?

Question

How can you find out if your insurance company is non-standard?  What makes a company non-standard?

Tom Z · Accepted Answer

General insurance companies can be divided into these categories:

Standard Lines 
Excess Lines 

Standard line insurance companies are "mainstream" insurers. These are the companies that typically insure autos, homes or businesses. They use pattern or "cookie-cutter" policies without variation from one person to the next. They usually have lower premiums than excess lines and can sell directly to individuals. They are regulated by state laws that can restrict the amount they can charge for insurance policies.

Excess line insurance companies (also known as Excess and Surplus) typically insure risks not covered by the standard lines market. They are broadly referred as being all insurance placed with non-admitted insurers. Non-admitted insurers are not licensed in the states where the risks are located. These companies have more flexibility and can react faster than standard insurance companies because they are not required to file rates and forms as the "admitted" carriers do. However, they still have substantial regulatory requirements placed upon them. State laws generally require insurance placed with surplus line agents and brokers not to be available through standard licensed insurers.

Go to your State's insurance department web site for a list of non-admitted carriers.

teeple · Answer

Non Standard Insurance

? · Answer

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RE What is a non-standard property/casualty insurance company?

How can you find out if your insurance company is non-standard? What makes a company non-standard?

Anonymous · Answer

A non-standard company, is one that specializes in writing insurance that most companies don't want to write.  There's no fixed set of criteria, and it's highly subjective.

The way to find out if your company is nonstandard, is to ask your agent.  

As an example, Foremost Insurance writes a modified homeowners policy on low value homes, rental units, rowhouses, low credit score customers, and will even write homeowners with pitt bulls (with a bite exclusion).  They are a non-standard carrier.  They're admitted in every state, I believe (although I don't think they write new business in Florida), and are owned by Zurich, the third? largest insurance company in the world.

Foremost is NOT an excess (non-admitted) carrier.  They ARE a non-standard carrier - they write risks that most insurance companies won't.

Aloisia · Answer

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RE :What is a non-standard property/casualty insurance company?
How can you find out if your insurance company is non-standard? What makes a company non-standard?
Update: do not send me phony sites like onlinebusinessmall.com
Follow 3 answers

Anonymous · Answer

For free insurance quotes

Chet · Answer

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what is a non-standard property/casualty insurance company?

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