Which category of Surplus Lines Insurers includes US domiciled insurers writing admitted business in some jurisdictions and surplus lines in others?

Prepare for the Florida Surplus Lines Insurance Exam. Use flashcards and multiple choice questions with hints and explanations. Set yourself up for success!

The category of Surplus Lines Insurers that includes U.S. domiciled insurers writing admitted business in some jurisdictions and surplus lines in others is indeed U.S. Domiciled Insurers. These insurers are based in the United States and are licensed to operate in certain states as admitted carriers, meaning they meet the requirements set by those states to sell insurance. However, when they operate in other jurisdictions where they are not admitted, they may write insurance as surplus lines carriers. This dual capability allows these insurers to be flexible in their operations and to offer coverage where traditional insurance options may be limited.

In contrast, Alien Insurers are those that are based outside of the United States and are not licensed by any U.S. state, while Foreign Insurers are those that are domiciled in one state but operate in another. Licensed Lloyds Brokers are intermediaries that facilitate the placement of insurance with Lloyd's of London and do not directly fit into the category of insurers writing surplus lines. Therefore, the nature of U.S. domiciled insurers allows them to both participate in admitted business and engage in surplus lines, making them distinct within the surplus lines insurance industry.

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