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What is a non-admitted carrier?

April 26, 2017non-admitted

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What is a non-admitted carrier?

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An insurance company that is not admitted by the state is not subject to a number of the fees and contributions required to be an admitted carrier. This can allow them to pass on savings to a client. Non-admitted carriers are available through a third party, or surplus broker, which PGI can help facilitate. Non-admitted carriers carry the same ratings as do admitted carriers which PGI represents.

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A “non-admitted” carrier is NOT subject to your state regulations, and is not protected by the state’s Guarantee Fund. A non-admitted carrier may be a viable option if an admitted carrier cannot be found for a particular risk.