Demystifying Filed/Non-Filed Versus Admitted/Non-Admitted Issues-Demystifying Filed/Non-Filed Versus Admitted/Non-Admitted Issues

Video Transcription

Video Summary

The video transcript discusses the distinctions between filed versus non-filed and admitted versus non-admitted carriers in the insurance industry, specifically in inland marine insurance. The presenters, Jeff Whitestone and Kevin O'Boyle, provide historical background on the development of nationwide definitions and regulations related to these distinctions. They explain how different states have varying requirements for filing forms, rules, and rates for certain types of coverage. The speakers emphasize the importance of researching state statutes and regulations to determine filing requirements for inland marine risks. They also touch on the benefits of non-filed classifications, the need for careful consideration before filing rates, and the potential legal implications of non-filed contracts. Additionally, they address the challenges and considerations involved in updating the inland marine definition and ensuring compliance with state statutes in insurance contracts.

Asset Caption

Date of Publication: October 24, 2013
Duration: 58 minutes

This webinar focuses on common misconceptions and state insurance department requirements regarding form/rate filing and license status.

Meta Tag

Module Inland Marine Insurance Industry

Keywords

filed versus non-filed carriers

admitted versus non-admitted carriers

inland marine insurance

state regulations

filing requirements

non-filed classifications

legal implications

insurance contracts

compliance with state statutes