Who is considered a licensed intermediary in the surplus lines market?

In the surplus lines market, a licensed intermediary refers to an individual or entity that facilitates the placement of insurance coverages that are not available in the standard market. This role is crucial as surplus lines insurance provides coverage for unique or high-risk situations that traditional insurance companies may not cover.

A professional assisting in compliance with regulations is ideally positioned in this context. They ensure that transactions comply with state laws and regulations, which is essential when dealing with surplus lines insurance. Surplus lines laws vary by state, and intermediaries must navigate these regulations to successfully secure coverage from non-admitted insurers.

The other options represent roles that do not directly align with the definition of a licensed intermediary in this specific market. For instance, an authorized agent for standard insurers would primarily work with admitted carriers, while a surplus lines carrier representative focuses on representing the interests of those non-admitted carriers. An employee of the guaranty fund typically deals with protecting policyholders from insurer insolvency rather than negotiating or placing surplus lines insurance. Thus, the role of ensuring regulatory compliance solidly fits as the designation of a licensed intermediary in this context.