What type of risks does a "specialty insurance company" typically cover?

A specialty insurance company is designed to address unique or hard-to-place risks that are often not adequately covered by standard insurers. This type of insurance is tailored to specialized markets, where the risks involved may be more complex or unconventional compared to standard insurance categories.

For instance, these firms may provide coverage for niche industries, unusual property types, or specialized liability situations that traditional insurance providers may shy away from due to the elevated risk. This allows businesses and individuals facing these uncommon risks to obtain protection that is specifically structured to meet their needs.

Options related to standard health and life insurance risks, low-value property risks, and common auto insurance claims do not accurately describe the target coverage of specialty insurance companies. These kinds of risks are typically managed by standard insurers, which focus on more conventional insurance markets. Thus, their offerings do not align with the primary role of specialty insurers, which is to fill gaps in coverage for atypical risks.