Authorized Insurer

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Authorized Insurer

A company that has received a license in a U.S. state to sell insurance in that state. Because each state has its own insurance regulations, each has the ability to set standards for authorized insurers. An insurance company operating in multiple states must be an authorized insurer in each state it does business.
References in periodicals archive ?
Currently, eligibility for E&S coverage in Florida requires that the procuring agent seek three rejections from authorized insurers writing this type of coverage and document these rejections on a diligent-effort form.
State insurance departments keep publicly available complaint-ratio statistics for authorized insurers, and rating companies like A.
Generally, under the provisions of the bill, only the licensed entities themselves would be exempt, including hospitals, authorized insurers, third party administrators, prepaid limited health service organizations, and HMOs.
The Georgia legislature, for example, authorized insurers in 2005 to offer many consumers an alternative plan with limited benefits.
The FSA has also authorized insurers to sell the products of rival insurers, opening the way for financially beleaguered midsize insurers to survive competition by concluding arrangements with bigger insurers to sell their policies.
Currently, Hong Kong has 209 authorized insurers, 347 insurance brokers and 45,406 insurance agents.
Surplus lines insurers do not file rates with the department and are not subject to the same requirements and regulations as authorized insurers.
Participation in reimbursement contracts is mandatory for almost all of the 205 authorized insurers of residential property in Florida.
Notwithstanding that certain sections of the New York insurance law expressly state that they are applicable only to New York domestic insurers, instances exist where foreign authorized insurers (and U.
All authorized insurers writing direct property and casualty business are members of FIGA.
Many of these licensed entities are active in the Australian market, particularly in segments where authorized insurers have been reducing capacity.
New York now allows all authorized insurers to appoint and terminate licensed agents electronically.
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