All of the following statements regarding unauthorized insurers are true, EXCEPT:

All of the following statements regarding unauthorized insurers are true, EXCEPT:



(a.) Excess and surplus lines insurers must apply for a certificate of authority to become admitted.

b. Unauthorized insurers are insurers that are unlicensed because they have not yet applied for a certificate of authority, have applied and been denied licensure, or are excess and surplus lines insurers.

c. All excess and surplus lines insurers are unauthorized.

d. Unauthorized insurers are also referred to as nonadmitted insurers, and do not hold a certificate of authority.



Answer: D

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