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Which of the following best defines a 'surplus lines insurer' in Florida?

An insurer authorized by the Office of Insurance Regulation to write standard insurance policies. An unauthorized insurer that has been made eligible by the Office of Insurance Regulation to write certain property and casualty insurance business not written by an admitted insurer. A domestic insurer licensed to transact admitted property and casualty lines in Florida. An insurer that only writes policies for governmental entities in Florida.

Correct Answer:

An unauthorized insurer that has been made eligible by the Office of Insurance Regulation to write certain property and casualty insurance business not written by an admitted insurer.

Explanation:

A surplus lines insurer is an unauthorized insurer that has been made eligible by the Office of Insurance Regulation (OIR) to write certain property and casualty insurance business not written by an admitted/authorized insurer.

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