Glossary Definition: Non-admitted insurance involves taking out an underwriting policy from an international insurance carrier that is not officially licensed, registered, or authorized in the specific foreign country where the physical risk is situated. While utilizing non-admitted insurance offers massive flexibility when drafting a highly customized bespoke insurance policy
, it faces strict penal limitations in specific international jurisdictions, often requiring corporate risk managers to patch global liability gaps with locally compliant admitted insurance alternatives.
Non-Admitted Insurance
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