Do you know the difference between standard market insurance carriers and non- standard?
I know the basic difference but in the auto industry. I am looking into product liability insurance for a company’s product. Would the same difference apply?
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Non-standard carriers are just companies that are not the “admitted” carriers. It is many times call the Excess and Surplus Lines. Many of these companies are global companies. Lloyds of London is an E & S carrier. As long as the company is financially stable then you should not have a problem. You may pay more for the coverage because the standard carriers do not want your business”too risky” so you have to go to E&S carrier.