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This is the license class that enables an insurance agent and/or agency to place large and/or hard-to-place insurance risks with non-admitted insurance carriers, also known as surplus lines or excess lines carriers. This class of insurance has very stringent filing and reporting requirements in many states including requiring zero reporting by the surplus lines broker.
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What happens to price when a surplus exists?
Surplus means there will be excess supply, meaning demand will fall, and so will prices
What is meant by surplus?
Being more than or in excess of what is needed or required. In accounting a non-profit organisation does not make a profit; any excess income over expenditure is called a Surplus instead.
Surplus is an excess of production or supply over demand. True or False?
True
What is surplus amount?
Surplus amount refers to the excess of resources, income, or goods beyond what is necessary or required. In finance, it often denotes the difference between revenues and expenses when revenues exceed expenses, indicating a positive financial position. In economic terms, it can also refer to the additional quantity of a product that exceeds the demand at a given price. Essentially, a surplus signifies abundance in a particular context.
What is an antonym for shortage?
An antonym for "shortage" is "surplus." While a shortage refers to a lack or insufficiency of something, a surplus indicates an excess or abundance. In economic terms, a surplus occurs when the supply of a good or resource exceeds the demand for it.
What descriptors give the reader the feeling of excess and abundance in lines?
Descriptions of opulence, extravagance, luxury, and surplus can evoke the feeling of excess and abundance in lines. Words like lavish, overflowing, bountiful, and extravagant also help convey a sense of surplus.
What has the author Cozen O'Connor written?
Cozen O'Connor has written: 'Annotations to surplus lines statutes' -- subject(s): States, Law and legislation, Annotations and citations (Law), Excess and surplus lines insurance
What is the opposite of surplus?
The opposite of surplus (excess) is Deficit or Shortage.
How did surplus lead to trade?
Surplus are basically excess products which may of course lead to trade. After all, these excess products may lead to excess profit as well
What is the opposite of shortfall?
Surplus
What does surplus mean within a business?
Surplus mean excess in business. A business can have a surplus of product in its inventory, which isn't good for revenues.
What is a word that means the same as surplus?
Superabundant, overstock, plethora, oversupply (when surplus is a noun) Excess, superfluent, leftover (when surplus is an adjective)
What does the company Burns and Wilcox specialize in?
Burns & Wilcox is an independent insurance broker. They specialize in excess and surplus lines of insurance. They also offer car and homeowners insurance.
What is another word for excess or extra amount?
surplus
What is an excess of too many start with s?
surplus
What is another words to excess or reserve?
surplus and cache
What is surplus lines insurance?
Surplus Lines Insurance is insurance that is not written through the admitted market. The insurance companies that are approved to write Surplus Lines business are not considered "admitted" or "licensed" by the states. The insured is not covered by the state Guarantee fund which means that if a surplus lines insurer becomes insolvent; the insured has no recourse in the event of a claim.
