What does Authorized Insurer mean? Read on to discover the definition & meaning of the term Authorized Insurer - to help you better understand the language used in insurance policies.
An authorized insurer is an individual or a company with approval from the responsible authority, as per the state, to conduct the business of issuing insurance coverage in a given state. Different states have varying guidelines on regulatory matters, and therefore, the right to sell insurance is issued by either the insurance commissioner or other related agent of the state. However, whoever issues the authority should provide a subsisting certificate of authority.
We hope the you have a better understanding of the meaning of Authorized Insurer.