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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Maison Insurance Co., formed in 2012, is a Louisiana domiciled, admitted company with its main office in Baton Rouge.
ADVANCE Alex Hynes of ScotRail admitted company got advance funds, as revealed in our story yesterday
Praetorian now includes QBE Specialty Insurance Company, a surplus lines insurer, and its affiliated admitted company, Balboa Insurance Company.
Despite the absence of surplus lines financial impairments from 2004 to 2011, the surplus lines average FIF of 0.99% from 1977 to 2011 remains a bit higher than the admitted company average impairment rate of 0.90%.
This review is very similar to the review conducted for an admitted company. It is no less stringent, as surplus line companies are not subject to the Florida Insurance Guaranty Fund.
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.