Reinsurance provided by a company that is licensed and authorized (admitted) to do business by a relevant governing entity (state or federal). Admitted reinsurance is used to provide higher coverage levels to customers when the risk is unacceptable to one insurance company alone. Reinsurance companies may pool the risk and share premiums. Or, an insurance carrier may pay a large scale reinsurer to take on partial liability for all the policies the carrier issues.
Related information about admitted reinsurance:
- Glossary of Reinsurance Terms
Admitted Reinsurance - A company is “admitted” when it has been licensed and accepted by appropriate insurance governmental authorities of a state or ...
- Net Loss Retention - Glossary of Reinsurance Terms - Guy Carpenter
No credit is given the company for such non-admitted reinsurance in its Annual Statement unless it withholds funds or holds a letter of credit on behalf of such ...
- NAIC Relaxes Collateral Requirements for Non-admitted Reinsurance
Nov 14, 2011 ... NAIC Relaxes Collateral Requirements for. Non-admitted Reinsurance. On November 6, 2011, at its Fall National Meeting in National Harbor, ...
- Non-admitted reinsurance in China and Hong Kong - Lexology
Oct 29, 2008 ... Non-admitted reinsurance is reinsurance written in relation to a jurisdiction by an underwriting insurer that is not licensed or authorised by the ...
- Non-Admitted Reinsurance Law & Legal Definition
A non admitted company is a company that is not licensed and therefore is not approved by governmental insurance authority of the state or country.
- New Jersey Law Provides for Reduction in Non-Admitted ...
New Jersey Law Provides for Reduction in Non-Admitted Reinsurance Collateral Requirement. 04.11.11. Michael J. Kurtis and Susan T. Stead. Subscribe to ...
- Non-Admitted Reinsurance/Letters of Credit, Insurance Department ...
STATE OF NEW YORK INSURANCE DEPARTMENT 25 BEAVER STREET NEW YORK, NEW YORK 10004. The office of General Counsel issued the following ...
- Reinsurance Glossary - Accident Year of Experience — Automatic
Admitted Reinsurance: Reinsurance provided by a reinsurer licensed or authorized in the jurisdiction in question. Affiliate Reinsurance: Reinsurance coverage ...