What is the purpose of the WA surplus lines stamp?

The purpose of the Washington surplus lines stamp is to certify that the insurance policy is classified as surplus lines coverage. Surplus lines insurance refers to coverage that is provided by non-admitted or unlicensed insurers that are not authorized to operate within the state but are permitted to offer coverage for risks that admitted carriers cannot or will not underwrite. The stamp serves as a clear indication that the policy meets the necessary criteria for surplus lines, ensuring that proper processes and regulatory requirements have been followed during its placement. This distinction is important for transparency and accountability in the insurance marketplace.