Admitted Company

Admitted Company

An insurance company licensed to operate in one state even though its main office is in another state. Insurance licensing in the United States is conducted on a state-by-state basis; admitted companies are, in effect, "foreign" corporations that have received permission to conduct business in-state. Both the companies themselves and the agents they use must be licensed in each state in which they work.
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Praetorian now includes QBE Specialty Insurance Company, a surplus lines insurer, and its affiliated admitted company, Balboa Insurance Company.
Each admitted company receives seed funding, shared office space, hands-on mentoring and the chance to pitch to the world's best angel investors and venture capitalists.
Sales in the UK and Ireland fell four per cent during the 13 weeks to January 26, admitted company boss Lord Harris, above.
It was certainly not cheap to build," admitted company spokesman, quantity surveyor John Furey, son of the founder, Connell.
But she admitted company pressure is also keeping many people from saying what they think.
If the company has entered into third-party reinsurance treaties or has a fronting arrangement with an admitted company, it is required to obtain permission from these parties to novate the old agreements.
SPARTA Specialty is a non-admitted company currently eligible in 33 jurisdictions that SPARTA will use to write program business for the surplus lines market and SPARTA American is an admitted company licensed in California that SPARTA will use for programs offering preferred Workers Compensation risks.
The program is supported by QBE Insurance Corporation an "A" rated Admitted Company.
Perdoni was Company Secretary of Advent Capital (Holdings) PLC, an AIM admitted company, and the Director of Advent Underwriting Limited responsible for Compliance, Risk Management and Internal Audit.