Non-Admitted Insurer

An insurance company licensed and approved by a state's insurance department to do business in that state, subject to state regulation and guaranty fund protection.

Insurance coverage from non-admitted insurers for risks that standard insurance companies won't cover, often for unusual or high-risk exposures.

A business professional who analyzes probabilities of risk and risk management, including calculation of premiums, dividends, and other applicable insurance industry standards.

The insurance company that provides coverage and agrees to pay for covered losses in exchange for premium payments.

The process by which an insurer evaluates the risk of insuring a person or property and determines coverage terms and premium rates.

Insurance purchased by insurance companies to transfer portions of their risk portfolios to other insurers, reducing the likelihood of large payouts from claims.