Admitted Company
Definition of "Admitted company"
Life insurance company or property and casualty insurance company licensed by a particular state to conduct business there. The company is subject to the state insurance code governing such aspects as company reserves and advertising. If an insurance company is not licensed by a given state or if its license is terminated, the company can no longer conduct insurance business in that state.
Popular Insurance Terms
Additional coverage available on most property insurance policies through the extended coverage endorsement. Windstorms, including hurricanes, cyclones, and high winds, are not among the ...
Ceiling on expense reimbursement allowance, as stated in New York insurance law, that an insurance company licensed in New York State can give its agents. This is one reason why a company ...
In workers compensation insurance policies and several business property and liability policies, review of the payroll of a business firm in order to determine the premium for coverage. ...
Group coverage for members of a fraternal association, usually on a nonprofit basis. ...
Prior to 1988, right to withdraw retirement assets before age 59 1/2 without having to pay a 10% penalty under the following circumstances: medical expenses are incurred. the plan ...
Acts or omissions that result in suits against an individual and/or residents of the individual's household for actual or imagined bodily injury and/or property damage to a third party. ...
Cash carried forward from the previous year, plus gains from operations for the current year, plus any capital gains. ...
Insurance policy under which premiums are past due but the grace period has not expired. ...
Cost of the assets listed on the accounting records of the company. These assets include the following: real estate (to include any adjustments for depreciation), transportation equipment ...
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