MLchartDataset catalogue

Nonadmitted insurance-US

Term · Insurance and risk management · MLC-T-INS-002315

Insurance placed with an insurer that is not licensed or authorized to do business in the state where the risk is located. This type of insurance is generally used for unique or high-risk exposures that the admitted market cannot or will not cover. It is regulated by state surplus lines laws and can only be placed through a licensed surplus lines broker, who is responsible for collecting premium taxes.

Table 1. Record
IdentifierMLC-T-INS-002315
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002315",
  "term": "Nonadmitted insurance-US",
  "field": "Insurance and risk management",
  "definition": "Insurance placed with an insurer that is not licensed or authorized to do business in the state where the risk is located. This type of insurance is generally used for unique or high-risk exposures that the admitted market cannot or will not cover. It is regulated by state surplus lines laws and can only be placed through a licensed surplus lines broker, who is responsible for collecting premium taxes.",
  "url": "https://mlchart.com/terminology/insurance/nonadmitted-insurance-us/"
}

Record 2,288 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.