Insurance Glossary

Non Binding Indication Insurance terms that are subject to change or withdrawal by the underwriter at anytime prior to commencement of cover. NBI will be subject to full support of the following market and underwriters’ satisfaction with the information required

Insurance terms that are subject to change or withdrawal by the underwriter at anytime prior to commencement of cover. NBI will be subject to full support of the following market and underwriters’ satisfaction with the information required

Two different meanings exist:

Admitted / non-admitted can refer to whether or not a country requires an insured to purchase insurance from an insurer licensed in this country. If no such requirement exists, non-admitted is allowed.

In the US non-admitted refers to a foreign insurer not licensed by the insurance department of the state in question.

Covers auto liability for cars not owned (or rented) by the policy holder. For companies this also covers liability for an employee using their personal car while on business.