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 ?
Agents must currently make a "diligent effort" and have been rejected by at least three authorized admitted insurers before seeking coverage from the surplus lines market for a policy.
Florida Passes 'Catch All' Insurance Bill Impacting Surplus Lines, Catastrophe Fund
Also, given the high catastrophe-prone risk and generally higher value of homes in these areas, a sizable portion of the coverage is provided by the Excess and Surplus market, and may work to shift losses away from traditional large admitted insurers.
Fitch Rtgs: (Re)Insurers Earnings to Fall on California Wildfire Losses
Jones said while some of these risks are being picked up by other admitted insurers, many of these consumers are being forced to purchase coverage through the FAIR Plan, the state's insurer of last resort, or the surplus lines market.
California Regulator Seeks Authority to Review Fire Models
SIG represents several admitted insurers, all rated “Excellent” by A.M.
Supermarket Insurance Group Now Licensed in 23 States
It's the market to which buyers can turn for additional capacity when admitted insurers have cinched their purse strings tight.
A favored destination? As the excess and surplus market has grown over the past 20 years, it's also seen plenty of changes
* Cites conditions with which a surplus lines broker seeking to procure or place nonadmitted insurance in a state for an exempt commercial purchaser must comply in order to win exemption from any state requirement to make a due diligence search to determine whether the full amount or type of insurance sought by such exempt commercial purchaser can be obtained from admitted insurers.
Federal surplus lines reform and those devilish details
Admitted insurers find it easier to win business by moving into traditional surplus lines areas.
Sidestepping insanity: the hard market is inevitable. It is time to prepare
Mid-Continent Group - a part of American Financial Group - consists of Mid-Continent Casualty, Mid- Continent Assurance and Oklahoma Surety, all admitted insurers. Mid-Continent Casualty Company is licensed in 33 states, with written premium in all 50 states.
MID-CONTINENT GROUP SELECTS CAMILION AUTHORITY SUITE
Couple that restriction with a legislative design that virtually forced the CHPAs to use off-the-shelf plans from admitted insurers and HMOs, and it is easy to understand why the CHPAs only signed up 92,000 participants.
Flying the coop on co-ops
At this point, however, most admitted insurers and even some in the surplus lines space are taking a pass.
Covering Cannabis in California
Admitted insurers' appetite for more premium has been whetted in part by that market's improving workers' compensation results in some states as well as cheaper reinsurance, Donovan points out.
Journey to the 'great spot': the excess & surplus lines market has never been healthier, but rate competition can be fierce for clients large and small
Free trade zone policies are also written by admitted insurers and are not insignificant.
Discord: ACORD introduces form that spells C of I flux
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