Nonadmitted or Nonlicensed Insurers Are Also Called

question 5

Multiple Choice

Nonadmitted or nonlicensed insurers are also called:

• A)alien insurers.
• B)excess and surplus lines insurers.
• C)exiled insurers.
• D)foreign insurers.
• E)demutualized insurers.

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Definitions:

Acquisition

The act of one business securing the bulk or all of another company’s equity to take over control.

Shareholders

Individuals or entities that own shares in a corporation, thus holding a portion of the company's equity.

Proxy Contests

A competition for the proxy votes of shareholders, typically aimed at gaining control of the company's board of directors.

Shareholder Votes

The process by which company shareholders exercise their right to vote on corporate matters, typically during annual general meetings.