What is the definition of Non-Admitted Insurer?
A Non-Admitted Insurer refers to an insurance company that holds a license to operate in some states, but not in others.
The term non-admitted insurer is from the point of view of the state, which did not issue a license to a certain insurance company. That insurance company is considered non-admitted by that state but may be allowed to conduct some level of business in the state. This is because the non-admitted insurer is able to offer insurance coverage that none of the admitted insurers in the state is offering. These are mostly high volume and high capacity risks, unique risks and professional liability.
Non-admitted insurers do not fall under the regulation of the state, nor do these join the pool that provides insurance guarantee funds created by the state.
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- Noncancellable and Guaranteed Renewable Policy
- Nonforfeiture Options
- No-Pay, No Play
- Notice of Loss
- Nuclear Insurance
- Nursing Home Insurance
- Occupation Disease
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- Ocean Marine Insurance
- Open Competition States
- Non-admitted Assets
- No-Fault Medical
- No-Fault
- Net Premiums Written
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- National Flood Insurance Program
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