Definition of "Admitted company"

Thomas  Biagoli real estate agent
Thomas Biagoli, Real Estate Agent Keller Williams Jacksonville Realty

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.

 

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