The purpose of writing insurance through an excess or surplus lines insurer cannot be to obtain what?

Writing insurance through an excess or surplus lines insurer is generally pursued for specialized needs that cannot be met by standard insurance providers. One of the main characteristics of surplus lines insurance is its focus on unique or higher-risk situations that traditional insurers are unwilling to cover.

In most cases, surplus lines insurers cater to markets that require tailored solutions, such as those involving unusual risks or conditions. While it might seem appealing to consider potential lower pricing, the reality is that excess or surplus lines often come with a higher cost due to the increased risk and specialized nature of the coverage. Thus, the primary function of obtaining insurance from these insurers is not to find a lower price, as the risk assessed often leads to more expensive premiums.

Understanding this, the purpose of utilizing an excess or surplus lines insurer is more aligned with securing adequate coverage for higher-risk or specialized scenarios rather than focusing primarily on the cost of that coverage.