Jim would like to start a business raising thoroughbred racehorses.Obtaining insurance on the horses is a key concern,and he was dismayed to learn that none of the insurers authorized to operate in his state offer this specialty insurance.What is the name of the intermediary that Jim can use to place this coverage with an insurer not admitted to his state?
A)alien insurer
B)general agent
C)surplus lines broker
D)direct writer

Question

Quizplus · Accepted Answer

A surplus lines broker can help Jim place coverage with an insurer not admitted to his state, which is necessary since none of the authorized insurers offer this specialty insurance. The other options do not apply to this scenario.

Jim Would Like to Start a Business Raising Thoroughbred Racehorses