What type of insurance coverage is provided by insurers that are licensed and regulated by the state?

Admitted insurance is provided by insurers that are licensed and regulated by the state in which they operate. This means that these insurance companies have undergone the necessary assessments and have acquired a license that allows them to offer certain types of insurance products within that state. Admitted insurers are subject to state regulations regarding rates, forms, and practices, which are designed to protect consumers by ensuring that the insurance provided meets specific standards of financial stability and consumer fairness.

This regulatory framework allows admitted insurers to offer standardized policy forms that have been approved by the state, ensuring transparency and reliability for policyholders. In contrast, nonadmitted insurance operates outside of state regulatory systems and does not have the same level of oversight, which can affect the accessibility and enforcement of policies provided by such insurers.

General liability insurance and excess insurance refer to specific types of coverage, rather than the licensing and regulatory status of the insurers providing those products. Therefore, while they may be offered by admitted carriers, the core aspect of the question relates to the licensing and regulation context, making admitted insurance the appropriate choice.