Financial Evaluation - Company Admissions Surplus Lines Companies Surplus lines insurance companies carry a specialized line of insurance generally not offered by any licensed insurance carrier. A surplus lines carrier is unlicensed and hence only registered in North Carolina but it must meet and maintain the guidelines for registration specified under the Surplus Lines Act, North Carolina General Statute 58-21. Companies that are registered surplus lines carriers in North Carolina can write all types of coverages in this state except the following: Reinsurance Wet marine and transportation insurance Insurance on vessels, crafts and hulls Marine builders risks, marine war risks and contracts of marine protection and indemnity insurance Insurance of freights Insurance of personal property and interests in the course of transportation on coastal or inland waters Commercial aircraft insurance Life insurance Life annuities Accident and health insurance Insurance independently procured pursuant to North Carolina General Statute 58-28-5 Please see North Carolina General Statute 58-21-10 for more details. All companies requesting registration as a surplus lines carrier must: Submit a letter to the Department requesting surplus lines status Report capital and surplus which equals $15,000,000 or higher Submit a copy of its current certified annual statement Submit a non-refundable filing fee In addition, all alien insurers (those insurers residing outside the United States) wishing to be an eligible surplus carrier must report a trust fund on deposit in a United States national bank an amount not less than $5,400,000 for the protection of all of its policyholders in the United States. This trust fund is to consist of cash, securities, letters of credit or other authorized investments and shall have an expiration date of not less than five years. Alien insurers must also be listed in the latest NAIC Quarterly Listing of Alien Insurers in order to be considered for registration. Every eligible surplus lines carrier that is registered in North Carolina must pay a nonrefundable renewal fee each year in order to retain registration. Click here for a list of registered surplus lines carriers in North Carolina.