What is the primary role of a surplus lines broker?

A surplus lines broker primarily specializes in obtaining insurance coverage for risks that are not typically covered by standard insurance policies. This involves accessing markets that provide unconventional or specialized insurance products. Businesses or individuals often approach surplus lines brokers when they have unique or high-risk situations that standard insurers are unwilling to insure. The surplus lines broker acts as an intermediary, connecting those clients with insurers who have the capacity to underwrite these non-standard risks.

In contrast, selling standard insurance products is within the realm of licensed general agents or brokers who deal mainly with traditional policies. Assisting policyholders with claims tends to fall under the responsibilities of a claims adjuster or customer service representative rather than the specific role of a surplus lines broker. Additionally, while brokers facilitate policies, they typically do not underwrite policies themselves; that is generally the function of the insurance carriers, which have the authority and expertise to assess risk and determine premium rates. Thus, the role of securing coverage for unusual or specialized needs distinctly defines the primary function of a surplus lines broker.