The Titanium Risk Group exceeds expectations in providing Excess and Surplus lines commercial insurance protection to specialized industries. Initially focused on casualty business, TRG provides both primary and excess coverage. E&S Division specializes in the placement of unusual risks or ones that exceed the capacity of standard carriers. Our Underwriters are experts in analyzing, pricing and tailoring unique insurance coverage on a non-admitted basis for a wide range of markets, particularly consumer and industrial products, new ventures and start-ups. Your customers will have a wide range of coverage options to choose from including our Worldwide Coverage, Specialty Plus and Products Withdrawal Expense Endorsements. No matter how complex or difficult the coverage, our experienced underwriters will work closely with you to develop a custom-made solution. Our products are surplus lines insurance, so we’re able to move quickly and respond rapidly to help you serve your client’s needs. Our specialized expertise in E&S coverage can give you a significant competitive advantage when you need it most.
Excess and surplus lines insurance is a segment of the insurance market that allows consumers to buy property and casualty insurance through the state regulated insurance market, where policyholders, agents, brokers and insurance companies all have the ability to design specific insurance coverages and negotiate pricing based on the risks to be secured. “Freedom of rate and form” has given the E&S market the ability to adapt quickly to changing market conditions and those of the consumers and commercial entities seeking this unique insurance protection.
The E&S originated when those who needed insurance coverage were unable to secure it from the standard carriers (or admitted carriers) due to a variety of reasons (e.g., new entity or one that does not have a adequate loss history; one that has unique coverage requirements; or a loss record that does not fit the underwriting requirements of a standard carrier).
The E&S industry is comprised of a variety of insurance companies writing what is referred to as "main street" business. The general contractor, trucking company, restaurant, bar or hotel, entities with environmental, professional liability and employment related risks and other unique exposures, are the staples of the business. A few large organizations will write the oil refineries, aircraft liability, property coverage on a communications satellite, etc.
As mentioned earlier, the E&S market is regulated in a different fashion than licensed or admitted companies. While the amount of direct regulation is less and the amount of free market competition is greater, specifically in the forms used and the rates charged, the E&S industry is still watched very closely. They also cannot write insurance that is typically available in the admitted market, they are not protected by the state guarantee fund, may pay higher taxes, may only write a policy if it has been rejected by 3 different admitted carriers, and the agent placing the business must have a surplus lines license. States also maintain a list of approved surplus lines companies, and policies can only be written by companies on the approved list.
