User:Oblivy/Nonadmitted insurance
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Nonadmitted insurance is the transaction of insurance business in, or the covering of risks located in, a market in which the insurer has not obtained the permission of local regulators for such transactions.[1] This term is common in U.S. markets; in other markets the term "unauthorised insurance" may be used.
Overview[edit]
Insurance is a highly regulated market
References[edit]
- ^ Rupp, Richard (1996). Rupp's insurance & risk management glossary 2nd Ed. NILS Publishing Company. p. 315. ISBN 0-89246-446-1.
External links[edit]