An insurance company that is ‘admitted’ is approved by the state’s insurance department to sell insurance to the general public in that state. Their rates must be filed and approved by the state’s insurance department and they must comply with the department’s regulations. An admitted insurer is often referred to as a standard market carrier. An example would be the underwriter of the Aon Attorneys Advantage standard program, AXIS Insurance Company.
A non-admitted insurance company has not been approved by the state’s insurance department. They do not file their rates with the state, nor do they have to comply with state regulations. This gives non-admitted insurers the flexibility to write more unique and hard-to-place risks. Non-admitted insurers are also referred to as a nonstandard market carrier or an excess and surplus lines carrier. An example would be the underwriter of the Aon Attorneys Advantage Select program.