All of the following are false statements regarding authority of insurers, EXCEPT:

a. Unauthorized insurers are admitted and hold a certificate of authority.

(b.) A license, called a certificate of authority, must be held by all insurers intending to transact insurance in a jurisdiction unless they are exempt as excess and surplus lines insurers.

c. All life and health insurance companies are admitted insurers.

d. Property and casualty insurers are also called excess and surplus lines insurers, and hold a certificate of authority to act as nonadmitted insurers in a jurisdiction.

Answer: B

State Insurance

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