The Surplus Lines Market is Not Just for Celebrities
January 25, 2022
The Surplus Lines Market is Not Just for Celebrities

In 2004 a movie came out with Ben Stiller and Jennifer Aniston called “Along Came Polly”, the movie centers around Stiller who is a Risk Analyst for a life insurance company and part of the story follows a Richard Branson type who is seeking life insurance. Stiller uses his Risk Master software to calculate the risk of insuring this individual who is an extreme adrenaline junkie. Needless to say, Stiller finds that the CEO’s penchant for danger makes him uninsurable for life insurance- how can you calculate a rate for someone willing to jump out of a perfectly good airplane? There are very few movies out there about insurance folks so bear with me while I circle back around on this.


We all know that you can insure a person through life insurance, although there are several hazardous occupations that make that endeavor expensive or seemingly impossible. The most dangerous jobs in the world include logging, commercial fishing, and mining, but did you know that it also includes farmers, truck drivers, and garbage collectors? These occupations are considered inherently dangerous and therefore the rates to insure the life of these occupations is costly and hard to obtain. Or what about the celebrities that want to insure their limbs? Rihanna, Heidi Klum and Jamie Lee Curtis insure their legs, Keith Richards insures his hands, Julia Roberts and America Ferrera insure their smiles and numerous other celebrities insure various parts and pieces for Millions of Dollars. So, where does one go to obtain insurance when the standard companies won’t take the risk?


Throughout modern history there have been insurers who have hit the headlines for covering unusual risks, mostly through a conglomerate of underwriters and actuaries that put pencil to paper to calculate manual rates for the risks and put up a promise to pay in exchange for a premium, essentially gambling that they will not have to payout. In theory, you can insure anything, from a satellite in space to the Titanic (the Titanic was insured for 1 million pounds). One of the many myths floating around Lloyd’s of London is thousands of policies taken out by people just in case they are turned into a vampire or werewolf (the Twilight Saga has some explaining to do). What about a movie director that wanted to protect himself against losses in the event that extraterrestrial intelligence was discovered before his movie came out to which the insurer refused, stating “I’m sorry Dave, I’m afraid I can’t do that”.


One of the most famous and largest conglomerates of underwriters in the world that take on this very enigmatic endeavor is called Lloyd’s of London. They are one of the many brokers who undertake the rating of the strange and unusual or the emerging risks that don’t have standard rates developed due to the newness of their innovation. They may also take on risks with adverse losses, high hazards and large values. This market segment is called Surplus Lines.


What is surplus lines insurance?

Simply put, surplus lines insurers are carriers that are willing to take on the risk when a number of admitted carriers have declined to do so. Standard market insurers continue to depart from certain lines of business, classes of business and certain geographies and are reducing limit capacities on both property and casualty placements. Admitted carriers seek to maintain underwriting discipline by reducing or withdrawing from certain risk classes to improve margins and de- risk their portfolios and the excess & surplus lines sector of the industry continues to grow as a result.


The U.S. insurance market is very competitive with many insurers licensed and admitted by states to provide coverage for numerous risks through a variety of distribution channels. Simply stated, in most states surplus lines insurers cannot write insurance coverage available from admitted insurers and may only write coverage rejected by a number of admitted insurers.


Are Surplus Lines Regulated?

While the surplus lines insurance market is regulated differently than the admitted market, it is a regulated marketplace. Surplus lines insurers are subject to regulatory requirements and are overseen for solvency by their domiciliary state or country. While solvency regulation is the responsibility of the surplus lines insurer’s domiciliary state or country, the surplus lines transaction is regulated through a licensed surplus lines broker. These brokers are responsible for ensuring the surplus lines insurer meets eligibility criteria to write policies in the state and to ensure the insurers are financially sound.


A consumer benefit available to admitted insurer policyholders but not available to surplus line insurers is protection by the state’s guaranty fund. This guaranty is funded by admitted insurers and will pay claims should an insurer become insolvent. Due to the strong and effective state-based solvency monitoring framework, the insolvency rate of surplus lines insurers has been historically equivalent to the admitted marketplace.


Just like Ben Stiller in the movie, surplus lines underwriters have to calculate the hazards and risks associated with the operations of that risk and calculate the premiums needed to cover their loss should it occur. This can be difficult when there is no past experience to draw from, but many times an underwriter will draw the knowledge and experience of similar risks to get to the point where they feel comfortable with the rate and an insurance policy is born. Most surplus lines business is not as dramatic as the examples above, but I have found through my 2-decade career to have experienced a few interesting endeavors such as a Reindeer farm, an antique steamboat, and my personal favorite, a fireworks factory (oh yes, they exist, Billy).


Not All Agents are Created Equal

When it comes to surplus lines insurance you need to have an agent that you can trust who knows the marketplace and the brokers like the back of their hand. Not all agents are created equal. If you’re in the market and not sure where you should turn to for your unique endeavor, try calling us at Simco. Our licensed agents can guide you through the process to provide you with insurance coverage as unique as your business.

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June 2, 2025
When school lets out, many working parents face a new set of challenges: piecing together childcare, coordinating summer camps, adjusting work schedules, and simply trying to maintain a sense of balance. For employers, this season presents a valuable opportunity to demonstrate empathy and build stronger connections with your workforce—especially your working parents. By offering the right policies, benefits, and workplace flexibility, your company can help parents manage the summer shuffle—while keeping productivity and morale strong. Here are a few impactful ways to make that happen. 1. Offer Flexible Scheduling Options Summer schedules are rarely predictable, especially for parents with younger children or teens involved in day camps, sports, or part-time jobs. Allowing employees to shift their working hours or compress their workweeks can be a game-changer. Early start and end times, four-day workweeks, or staggered hours give parents the flexibility to handle family logistics without sacrificing their jobs. What you can do: Encourage managers to have open conversations with team members about their summer availability. Promote cross-training so employees can support each other during flexible hours or time off. Formalize a “Summer Flex Hours” program to show company-wide support. This kind of trust-driven flexibility not only improves work-life balance but also boosts engagement and retention. 2. Revisit Your Remote or Hybrid Work Policy For companies that support remote work, summer is an ideal time to offer extra flexibility. Parents may need to be closer to home for child supervision or to avoid time-consuming commutes during camp drop-offs and pickups. Even one or two remote days per week can ease the mental load on parents—helping them stay focused and productive during working hours. And it signals a deeper commitment to employee wellbeing. Ways to implement: Offer a seasonal “summer remote work option” if your company is traditionally office-based. Empower department heads to tailor remote work flexibility to their team’s needs. Reinforce accountability and results-based performance to support this model. Tip: Simco is happy to help you review your remote work policy for both compliance and employee satisfaction! 3. Promote and Educate on Dependent Care Benefits Many organizations offer dependent care support, but employees often forget—or aren’t aware—of what’s available. Summer is a perfect time to highlight programs like: Dependent Care FSAs (tax-free childcare reimbursements) Childcare subsidies or stipends Backup care assistance Employee Assistance Programs (EAPs) with parenting or caregiver resources Tip: Create a simple “Summer Benefits Guide” or a quick email campaign highlighting available benefits. If your team uses a digital portal or app, make sure this information is easily accessible and up to date. 4. Plan Ahead for PTO and Team Coverage Summer means vacations—and for working parents, this might be the only chance they get to spend extended time with their families. That’s why it’s crucial to encourage early vacation planning and transparent communication among teams. Strategies to support summer PTO:  Ask employees to submit summer PTO requests as early as possible. Use shared calendars and collaborative tools to coordinate team coverage. Train back-up team members ahead of time to avoid last-minute stress. Consider adding a floating summer holiday or mental health day to give employees a breather. When employees feel supported in taking time off, they’re more likely to return refreshed and ready to re-engage. 5. Build a Family-Friendly Workplace Culture Supporting working parents isn’t just about policies—it’s about creating a culture of empathy and understanding. That starts with leadership modeling flexibility, and continues with teams who respect boundaries and accommodate personal obligations. Ideas to build culture: Create a parent resource group or Slack channel to exchange ideas and support. Share local summer camp or childcare resources in your company newsletter. Avoid scheduling late afternoon meetings that may interfere with family commitments. Celebrate family milestones or kid-friendly moments in a light-hearted way. These small cultural cues can go a long way in helping working parents feel seen, supported, and valued—especially during a season that’s often more stressful than relaxing. Final Thoughts Supporting working parents through summer break isn’t just the right thing to do—it’s a smart business strategy. Offering flexibility, benefits education, and an understanding culture helps companies retain top talent, foster loyalty, and create a healthier workplace for all. Need Guidance? At Simco, we specialize in helping businesses implement people-first policies and scalable benefit solutions. If you’re looking to enhance your workplace support for parents (or all employees), our specialists are here to guide you! Let’s talk about how we can help your workforce thrive—this summer and beyond.
May 30, 2025
Let’s be honest—mid-year reviews often don’t get the attention they deserve. They sneak up between vacations, project deadlines, and Q3 planning. But when done right, these check-ins can be one of the most valuable tools you have for keeping employees engaged, aligned, and growing. They’re not just about checking a box or filling out a form. Mid-year reviews are a chance to reconnect, recalibrate, and reenergize your team—and they can have a big impact on retention and performance. So, how do you make these conversations count? Let’s break it down. Why Mid-Year Reviews Actually Matter Think of the mid-year review as a strategic pit stop. You’ve made it halfway through the year—now’s the time to assess what’s working, what needs adjusting, and where your people want to grow. And here’s why that matters: Companies that implement regular performance feedback see 14.9% lower turnover rates than those that don’t, according to Gallup Employees who receive consistent feedback perform better and are more engaged overall, according to studies conducted by the Harvard Business Review Employees are far more likely to stay when they know their growth is supported The takeaway? People want feedback. But more importantly, they want useful feedback—along with the tools to take the next step forward. What to Ask: High-Impact Questions Performance reviews should feel like conversations, not interrogations. Open-ended, thoughtful questions help create space for honest dialogue. Below are a few ideas to keep the conversation flowing—and meaningful. Goals & Achievements What’s been your proudest accomplishment this year? What challenges have you worked through—and what did you learn? Are we on track with the goals we set earlier this year? Strengths & Value What are you most confident about in your role? Where do you feel you're making the biggest impact? Growth Opportunities Are there any skills you’re itching to develop? Where could we offer more support or resources? Looking Ahead Where do you see yourself a year from now? What kind of training or experiences would help you get there? This isn’t just about reviewing the past—it’s about setting the tone for the future. Turning Feedback into Development: Exploring the Role of Learning Management Systems Identifying growth opportunities during a performance review is just the first step—real transformation happens when you take action on that feedback. One effective way to support employee development is by leveraging a Learning Management System (LMS) . An LMS provides a structured and scalable way to turn feedback into forward momentum—whether you're preparing someone for a promotion or helping them build confidence in new skills. Key LMS features that support performance development include: Personalized learning paths aligned with individual or team goals Access to broad training libraries, including compliance and skill-building content Tools to track progress and measure learning impact Engaging elements like AI assistance, gamification, and peer learning These tools transform performance feedback into growth, helping businesses create a continuous learning culture. Look No Further At Simco , we support our clients through every stage of the performance management journey — from crafting the right review questions to delivering personalized, scalable learning opportunities. Our integrated HCM technology includes the isolved Learn & Grow Module, which features: 89,000+ courses including SCORM and state-compliant training Custom curriculums for individuals and teams AI-driven search and chatbot support Dashboards, reporting, gamification, and more Final Thoughts: Mid-Year Reviews Are a Strategic Lever Mid-year reviews are more than a checkpoint — they’re a chance to re-engage your team, show appreciation, and chart a clear path forward. When you treat them as an opportunity for dialogue, reflection, and action, the benefits ripple across retention, morale, and performance. Want to make your next round of reviews truly impactful? Let’s talk about how Simco can help streamline your process and empower your people.
May 15, 2025
Each spring, New York State enforces a residential burn ban from March 16 through May 14 to help prevent wildfires. As of yesterday, the ban has officially been lifted , but fire safety should remain top of mind. While the Finger Lakes has seen steady rain this week, the risk of fire can still escalate quickly with a few dry, breezy days. If you’re planning to burn brush, enjoy a backyard fire pit, or take part in spring clean-up, it’s important to do so with caution. Why Does the Burn Ban Exist? The annual burn ban is in place to reduce the threat of wildfires during one of the most vulnerable times of the year. In early spring, before trees and vegetation fully green up, dead grass, leaves, and branches are dry and highly flammable. Combined with seasonal winds and low humidity, even small outdoor fires can spark large, fast-moving wildfires—especially in rural areas. This proactive ban has proven to significantly lower the number of wildfires across the state each year, protecting homes, farmland, and natural habitats. What Homeowners Should Do Now With the ban lifted, it’s a good time to: Review your homeowners insurance to ensure you're protected against fire-related damages. Practice safe outdoor burning , such as keeping fires a safe distance from structures and never leaving them unattended. Consider additional coverage for properties with wooded acreage or high-risk features. At Simco , we’re here to help you navigate risks like these—before they become problems. Whether you need a policy review or simply want to make sure your coverage keeps pace with your lifestyle, we’re just a call or click away .

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