Frequently Asked
Questions

The company has met the minimum requirements established by statute and is authorized by that state to write business. The importance of being admitted includes not only the protection to the insured of having the backing of the state’s regulatory authorities to assist if a problem arises, but also the fact that the guaranty fund laws generally apply only to licensed insurance carriers.

The company is a surplus line (non-admitted) carrier, which is a company that generally underwrites risks or part of risks for which insurance is not available through an admitted company. This business is, therefore, placed with non-admitted insurer (a company not licensed in  the state) in accordance with state surplus lines insurance laws.

A special purpose liability insurance company formed under the Liability Risk Retention Act of 1986 that is wholly owned by policyholders. After meeting the regulatory requirements of the state in which it is chartered, an RRG can provide insurance to members in other states without first having to meet their individual licensing requirements.