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:

Inventions

Novel creations or innovations that result in new products, processes, or technologies, often protected by patents.

Agreement

A mutual understanding or arrangement between two or more parties that establishes the terms and conditions of their interaction.

Compensatory Damage

Financial compensation awarded to a plaintiff to cover actual losses, expenses, and suffering resulting from the defendant's action or negligence.

Courts

Judicial systems responsible for interpreting and applying the law in legal cases.