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What's the difference between admitted and non-admitted insurance company?

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What's the difference between admitted and non-admitted insurance company?

This interesting question is from ascot insurance subject

I have been asked this question during an interview.

Other related questions to my question are:

What does it mean when an insurance carrier is non-admitted?

Is a non-admitted insurer bad?

What does non-admitted mean?

What does it mean when a claim is admitted?

1 Answer

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Correct answer is: non-admitted insurance carriers. An admitted insurance company has met regulations set by a state's department of insurance (DOI), whereas a non-admitted insurance company has not met those requirements.

The title of my answer can be What Are Admitted vs. Non-Admitted Insurance Carriers?

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