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Admitted Carriers

What are admitted carriers?

Admitted carriers are insurance companies licensed by local insurance commissioners or by a state’s Department of Insurance (DOI). This means that the DOI verifies the admitted carriers’ rates, policies forms, and requirements.

An admitted carrier is also commonly referred to as an admitted insurer or a standard market carrier.

Physicians may need to choose between admitted and non-admitted insurers when choosing malpractice insurance. Often, admitted carriers may exclude specific procedures and practice areas considered to be high risk.

What are the benefits of admitted carriers?

Since an admitted carrier must follow guidelines set by the DOI in the state, any modifications to standard carriers’ rates, admitted status, advertisement, business practices, and cash reserved must be approved by the DOI. Since these are state-regulated, patients can feel more secure that their claims will be covered and that rates will not change unexpectedly.

Admitted carriers also often offer policyholder benefits, such as credits, dividend credits, and risk management programs. Additionally, if the admitted insurance company fails to cover healthcare costs, the state will help make payments of claims using its insurance fund.