What does 'market access' mean in surplus lines insurance?

In the context of surplus lines insurance, 'market access' specifically refers to the ability to place insurance with non-admitted carriers. Surplus lines insurance is necessary when the standard market cannot provide coverage for certain risks. Non-admitted carriers are those that are not licensed in the state but can offer insurance products that admitted carriers may not cover.

This definition highlights how surplus lines enables access to a broader array of insurance solutions, especially for unique or high-risk cases that cannot find coverage in the traditional insurance market. Being able to work with non-admitted carriers allows brokers and agents to better serve their clients by providing options tailored to their specific needs.

The other choices do not accurately capture the essence of market access in surplus lines. Selling any insurance products, charging lower premiums, or providing broader coverage options do not directly relate to the unique aspect of placing insurance with non-admitted carriers, which is fundamental to surplus lines insurance.