Specialty Lines Insurance - What is it?

"Specialty lines insurance" is a term used in the insurance industry to describe types of insurance or classes of business that require specialized expertise to underwrite. Insurance for these classes of business are not widely available from insurance companies, and are typically purchased from the specialty lines divisions of larger insurance companies or from small specialty lines insurers.

The term can be interchangeably applied to classes of business or lines of insurance. Classes of business refers to types of organizations, while lines of insurance refers to the specific type of insurance. Typically, specialty lines underwriters focus on classes of business that are difficult to insure, but sometimes the insurance product is specialized itself.

Examples of specialty classes of business include:

• Investment Organizations - Mutual funds
• Recreation facilities - Ski resorts
• Agricultural organizations - Growers
• Manufacturers of high exposure products - Football helmets

Examples of specialty lines of insurance include:

• Professional Liability
• Directors & Officers
• Trustee Liability
• Employment Practices Liability
• GL/Products

Acadia Specialty Insurance Agency provides advice and insurance placement for specialty lines clients. We look forward to working with you on your specialty insurance needs. Please contact us at your convenience to discuss your specific situation so we may propose a customized solution for your organization. You may contact us at info@acadiaspecialty.com, or by calling our office at 410-848-0665.

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