Is there a difference between an Admitted and a Non-Admitted Insurance Company?
Yes. The main differences involve: the way they are regulated by the state insurance departments, the way taxes are collected and paid, participation in state insolvency pools and the freedom to use rates and forms. Of primary importance with both admitted and non-admitted insurance companies are their financial strength and stability as well as their responsiveness when coverage is needed and claims occur. Non-Admitted companies exist to serve the insurance needs that most admitted companies do not want to handle.
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