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CA Department of Insurance
CA Department of Insurance
CA Department of Insurance

Eligible Carriers

What brokers should know about eligible carriers:

  • Eligible carriers do not need to file any documents with the CDI.

A U.S. domiciled ("foreign") nonadmitted insurer (a U.S. domiciled or Branch of an alien insurer not domiciled in California) must

  • be licensed in its state of domicile to write the type of coverage being placed and,
  • maintain a minimum of $45 million in capital and surplus (unless excepted).

(Exceptions to Capital and Surplus Requirement:  If a foreign insurer has at least four and one-half million dollars ($4,500,000) in capital and surplus, then the carrier may request an affirmative finding of acceptability from the Commissioner based upon factors such as quality of management, capital and surplus of any parent company, company underwriting profit and investment income trends, market availability and company record and reputation within the industry.)

A non-U.S. domiciled ("alien") nonadmitted insurer must

  • be on the Quarterly Listing of Alien Insurers issued by the NAIC's International Insurers Department ("IID List").

 

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