Associate In Surplus Lines Insurance (ASLI) Definition
What is an Associate in Excess Lines Insurance (ASLI)?
Associate in Surplus Lines Insurance (ASLI) is a professional designation for agents, brokers, risk managers, underwriters, claims professionals, regulators and other professionals who work in the excess lines insurance industry. The institutes, an industry education and accreditation body, awards the designation.
Key points to remember
- Associate In Surplus Lines Insurance (ASLI) is a professional certification for those working in the surplus lines insurance industry.
- The excess line insurance market is for insurance risks for which only out-of-state insurers will underwrite coverage.
- The ASLI program covers four modules and lasts between nine and 15 months.
Understanding Partners in Surplus Lines Insurance
To understand what associates do in excess line insurance, it helps to understand the insurance industry more generally. In the United States, the state regulators are responsible for licensing and supervising insurance companies. Licensed insurers must follow state regulations and maintain necessary standards of financial soundness.
Sometimes insurers won’t or can’t accept a particular insurance contract, usually because the contract comes with a particularly large or unusual contract. risk. In these cases, the party requesting coverage can go out of state to find an insurance company they can work with. This type of insurance—in which an out-of-state insurer covers a risk that no in-state provider can accept—is known as excess lines insurance.
Professionals who hold the ASLI designation are those who have the special training to handle these types of transactions. To earn the ASLI designation, candidates must complete four institute-administered courses, which take nine to 15 months to complete. Courses cover core skills and business ethics, in addition to electives such as operations and sales, claims management, risk, and commercial underwriting.
ASLI’s common core covers insurance regulations and the conditions under which insurance for excess lines can be offered to customers. This includes instructions on the marketing of excess lines insurance products, as well as methods of risk assessment and calculate premiums for contracts. The program also contains instructions on products such as management liability insurance, environmental damage insurance and insurance related to cybersecurity issues.