St. Louis, Missouri, resident James Giacin is an investment professional with over 20 years of experience. He has managed the growth of a $150-billion insurance platform for insurance companies. James Giacin has placed over $3 billion in private equity and co-investment with a broad syndication of insurance companies.

Insurance companies offer clients financial protection for unexpected events. A common type of insurance company is a domestic insurance company. Domestic insurance companies are governed by the state's laws in which they are incorporated and domiciled. Furthermore, they are considered domestic insurers by their domiciliary state and primarily operate and provide insurance within that state. Although, if licensed, they may operate in other states, they'll be regarded as foreign insurers.

Meanwhile, surplus line insurers are insurance companies governed by a state's surplus line office, granting them greater business flexibility. These insurance companies are known as "non-admitted insurers" and typically insure items such as art collections, antique homes, and valuable racehorses. However, state guarantee funds do not back surplus lines insurers, increasing the risk of their clients' claims going unpaid in the event of closure.