On the Texas Dept. of Insurance (TDI) website there is a disclaimer that states that TDI does not license surplus lines. They have a search report that list surplus lines agents and agencies; the search report has their license expiration date. So if they are stating that they do not license surplus lines, why is there a license expiration date on this report? Is it from their state and not Texas? Does this count as being "recognized" in the State which the property is located?
Surplus Lines
carriers are different from surplus lines
agents. Texas does not license the carriers (the insurance companies), but they do license the agents/producers (the people who sell you the insurance). But! Just because TX doesn't license the carriers, doesn't mean they don't maintain a list of authorized carriers
https://www.sltx.org/insurers/eligible-insurer-list/eligible-insurers/ Eligible Lloyd's Syndicates** for Lloyd's policies and
Eligible Insurers for other carriers
ICYI: To access a non-admitted carrier through the surplus lines market, one must go through a surplus lines agent (agent, broker, producer, etc). In most states, unless you meet the definition of an
Exempt Commercial Purchaser, the licensed agent must perform a
diligent search to ensure that the type of insurance requested is not readily available in the admitted market. After confirming it is not, the surplus lines agent may connect to a surplus lines insurer to procure the desired coverage.
**Lloyd's policies contain a
Market Schedule which will list the related syndicates and % of the risk that each syndicate covers. Commonly, the schedule will include the following:
Syndicate name or pseudonym - a three-character reference number for the company name (ex. "KLN" is the pseudonym
for Tokio Marine Kiln)
Number - the syndicate number
<<<< this is the syndicate code and what you're checking on SLTX's "Eligible Lloyd's
Syndicates" page (ex. Tokio Marine Kiln's syndicate number is 510)
Signed Line - the syndicate's at risk stake in the policy; think of it as the "% insured" - when you see a limit of coverage,
that's the % of that limit that they are responsible for paying in the event of a covered a loss
Reference - a market reference number for Lloyd's identification; think of this as an internal (Lloyd's) license number.