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What is the Definition of Nonadmitted Insurer?

What is the Definition of Nonadmitted Insurer?

Insurers licensed in some states, but not others. States where an insurer is not licensed call that insurer nonadmitted. They sell coverage that is unavailable from licensed insurers within the state.

Source: Insurance Handbook A guide to insurance: what it does and how it works |

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Nonadmitted Insurer?

You can find random definition and meaning of insurance terms below:

What is the meaning of Replacement Parts

Several types of parts may be used when your vehicle is repaired: new parts, both original equipment manufacturer and after-market; and recycled parts. New or after-market parts will be used if we can't find like-kind and quality recycled parts. A 5-year-old car, for instance, would be repaired with parts at least as good as the parts that had been in the car. We guarantee the after-market parts used for these repairs for as long as you own the car.

What is the meaning of Resident Adjuster

Staff adjuster who handles claims in remote areas of a region.

What is the meaning of Retained Limit

In umbrella insurance, retained limit is similar to a deductible in other types of insurance. The retained limit is the amount of damages for which the policyholder is responsible before the umbrella coverage begins to cover a loss.

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