What is the difference between admitted and non-admitted insurance companies?

Admitted and non-admitted insurance companies in New Hampshire are regulated by the state’s insurance regulation law. An admitted insurance company is one that is licensed by the state’s Department of Insurance and authorized to sell policies within the state. Admitted companies are subject to state rules and regulations governing what types of insurance they can offer, their financial soundness, and other aspects of the business. A non-admitted insurance company is one that is not licensed or regulated by the state’s Department of Insurance. These companies are not subject to the same state rules and regulations as admitted companies and as such may offer different types of insurance or policies that may be unavailable through admitted companies. However, non-admitted companies may not be as financially sound or reliable as admitted companies and may not be able to pay claims as efficiently or effectively. In short, admitted insurance companies are those that are approved and regulated by the state’s Department of Insurance, while non-admitted companies are not subject to the same regulations and may offer different types of policies. However, it is important to be aware that non-admitted companies may not be as reliable as admitted companies.

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What is the difference between admitted and non-admitted insurance companies?

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