Eligible Insurers

Related Information

Eligible Insurers Frequently Asked Questions

  1. What are the requirements for eligible surplus lines insurers in Pennsylvania?
  2. Where can I find the list of companies eligible to provide surplus lines insurance in Pennsylvania?
  3. How often is the eligible surplus lines insurer list published or updated?

1. What are the requirements for eligible surplus lines insurers in Pennsylvania?

(a) No surplus lines licensee shall place any coverage with a nonadmitted insurer unless, at the time of placement, such nonadmitted insurer qualifies under one of the following:

(1) (i) is authorized to write the type of insurance in its domiciliary jurisdiction; and

(ii) has capital and surplus or its equivalent under the laws of its domiciliary jurisdiction which is greater than or equal to fifteen million ($15,000,000) dollars. The requirement of this subparagraph may be satisfied by an insurer's possessing less than the minimum capital and surplus upon an affirmative finding of acceptability by the commissioner. The finding shall be based upon such factors as quality of management, capital and surplus of any parent company, company underwriting profit and investment income trends, market availability and company record and reputation within the industry. In no event shall the commissioner make an affirmative finding of acceptability when the nonadmitted insurer's capital and surplus is less than four million five hundred thousand ($4,500,000) dollars.

(2) If domiciled outside the United States, is listed on the Quarterly Listing of Alien Insurers maintained by the International Insurers Department of the National Association of Insurance Commissioners.

(b) In addition to meeting the requirements in subsection (a), a nonadmitted insurer shall be an eligible surplus lines insurer if it appears on the most recent list of eligible surplus lines insurers published by the department from time to time but at least annually. Nothing in this section shall require the department to place or maintain the name of any nonadmitted insurer on the list of eligible surplus lines insurers.

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2. Where can I find the list of companies eligible to provide surplus lines insurance in Pennsylvania?

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3. How often is the eligible surplus lines insurer list published or updated?

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