Thursday, February 10, 2011

Is he on the team, or NOT?

So, you've been play the BAD GUYS RFC for years, and you know they cheat. All of a sudden, they have this brand new player, you've never NEVER seen before. He's not CIPP'ed "yet" but they swear he's not a ringer...

Yeah, right...

In Insurance, this is called Admitted, and Non-Admitted, or Surplus Lines.

Basically, Admitted insurers must post their rates with the State, and the State will back them up in case the insurance company goes under...

Non-admitted/Surplus Lines basically skirt those rules, and are NOT backed up by the domicile State.

Expect more companies to go Non-admitted as the Market stays soft... Basically, if you regulate too much, profitable business figure out a way around the regulation.

So, NO, he's not on the team. But the ref doesn't care, so the guy gets to play.

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