  Flexibility and SpecializationRisks that fall into the surplus lines market are generally unique. That uniqueness requires specialized knowledge and Naxos Insurance management and staff are trained and prepared to deal with these special coverages. Additionally, Naxos is able to manage multiple relationships: Managing General Agents, TPA's insurance companies and claims services. The ability of Naxos to know the business, manage a myriad of relationships, and distribute the product efficiently, highlights the distinct flexibility, experience, expertise and specialization of the company in this surplus lines market. The surplus lines insurance market exists due to a regulatory distinction and provides an alternative for unusual or higher risk insurance unavailable to purchasers from licensed insurers. Coverage may be unavailable from licensed insurers due to the exposures presented by the particular account or the terms and conditions in the coverage provided. For insureds unable to secure insurance coverage from licensed companies, the surplus lines market provides an alternative market with flexibility, additional capacity and innovative underwriting which are all provided for by Naxos Insurance. The surplus lines market goes by a variety of names, including the following:
Most surplus lines business is commercial, although some unusual or higher risk personal lines coverage is placed in the surplus lines market. An example of personal lines coverage in the surplus lines market is catastrophe-prone homeowners insurance.   |
