01.Core Concepts

A broker is someone who legally represents the insured, and: solicits applications and attempts to place coverage with an appropriate insurer is paid a commission from the insurers where the business is placed does not have the authority to bind the insurer A surplus lines broker is licensed to place business with a nonadmitted insurer Surplus lines refer to any type of insurance for which there is no available market within the state, and coverage must be placed with a nonadmitted insurer