True or False: Admitted insurance companies accept surplus and excess lines business.

Admitted insurance companies primarily operate within the regulatory framework of a state's insurance department, and they are allowed to offer standard insurance policies to the general public. These companies are responsible for adhering to state requirements, including rate approvals and policy forms. In contrast, surplus and excess lines insurance is designed for risks that are considered unusual or higher than the standard market can accommodate.

Surplus lines insurance is typically placed through non-admitted insurers, which are not bound by the same state regulations as admitted insurers. These non-admitted insurers often have greater flexibility in underwriting and pricing, allowing them to cover unique or higher-risk situations that admitted insurers may decline.

Therefore, the statement that admitted insurance companies accept surplus and excess lines business is false, as it is the non-admitted or surplus lines insurers that handle such types of coverage.