Unauthorized Insurer

Unauthorized Insurer

An insurance company that has not received permission to do business in one's state. For example, an insurance company only authorized to operate in Texas is an unauthorized insurer in Oklahoma. It is illegal for an unauthorized insurer to do business.
References in periodicals archive ?
It prohibits calling attention to unauthorized insurers and provides that "[n]o insurance agent, insurance broker or other person shall, by any advertisement or public announcement in [New York], call attention to any unauthorized insurer or insurers.
Under the proposed budget, the fine for acting without a license and aiding an unauthorized insurer would have jumped from $500 to $10,000.
Any company that qualifies under the industrial insured exemption can procure insurance from an unauthorized insurer without leaving the state or following surplus lines procedural requirements.
In Oregon, a statute was enacted that, in many cases, disqualified coverage purchased from an unauthorized insurer.
Ulland seemed to initially take a position against the Newsletter when in September 1993 he asked for the Newsletter to explain why it should not be regulated as insurance or face sanctions for acting as an unauthorized insurer.
An unauthorized insurer writing insurance or an insurer writing noninsurance only subjects the insurer to regulatory penalties.
The Commissioner had sued the Christian Brotherhood Newsletter accusing it of acting as an unauthorized insurer.
direct access to an unlicensed, unauthorized insurer.
Levinson today issued an alert to Delawareans that the Delaware Insurance Department has been informed that an unauthorized insurer,
The purpose of this bill is to authorize the Insurance Commissioner to apply the same enforcement provisions to unlicensed professional employer organizations (PEOs) as are applicable to unauthorized insurers and to allow the fraud unit to investigate PEOs.
Unauthorized Insurance Entities: Knowing the Difference" is a two-hour course designed to better educate students regarding the differences between unauthorized insurers and illegal insurance entities.
Procurement tax rates are often higher than premium tax rates, to discourage insure& from securing insurance coverage from unauthorized insurers.
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