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A surplus lines broker seeking to procure or place nonadmitted insurance in a state for an exempt commercial purchaser ("ECP") is not required to satisfy any state requirement to a make a due diligence search to determine whether the full amount or type of insurance sought by the ECP may be obtained from admitted insurers if: (1) the broker ...
The consumer surplus (individual or aggregated) is the area under the (individual or aggregated) demand curve and above a horizontal line at the actual price (in the aggregated case, the equilibrium price). If the demand curve is a straight line, the consumer surplus is the area of a triangle:
Although surplus line insurers are still regulated by the states (or countries) in which they are actually admitted, the disadvantages of obtaining insurance from a surplus line insurer are that the policy will usually be written on a nonstandard form (that is, not from the Insurance Services Office), and if the insurer collapses, its insureds ...
In a 9 line surplus treaty the reinsurer would then accept up to $900,000 (9 lines). So if the insurance company issues a policy for $100,000, they would keep all of the premiums and losses from that policy. If they issue a $200,000 policy, they would give (cede) half of the premiums and losses to the reinsurer (1 line each). The maximum ...
However, in many cases, state insurance regulators have allowed insurance companies to classify the capital raised via surplus notes as “surplus” (which is the statutory equivalent of equity), because surplus note holders are last in line to make a claim on the company's assets in a default scenario, much like where equity holders reside in ...
A key line signals why it could be realistic despite US deficits Critics of a US sovereign wealth fund point out that the US, far from having a surplus, runs trillion-dollar deficits — the ...
Excess lines In most countries, life and non-life insurers are subject to different regulatory regimes and different tax and accounting rules. The main reason for the distinction between the two types of company is that life, annuity, and pension business is long-term in nature – coverage for life assurance or a pension can cover risks over ...
In economics, an excess supply, economic surplus [1] market surplus or briefly supply is a situation in which the quantity of a good or service supplied is more than the quantity demanded, [2] and the price is above the equilibrium level determined by supply and demand. That is, the quantity of the product that producers wish to sell exceeds ...