What do you call an insurance company that is authorized to operate in Florida?

The term used for an insurance company that is officially permitted to conduct business within Florida is "authorized insurance company." This designation means that the company has gone through the necessary regulatory processes set by the Florida Office of Insurance Regulation, including obtaining the required licenses to offer insurance products within the state’s jurisdiction.

This authorization ensures that the company complies with state laws, maintains financial solvency, and adheres to consumer protection standards. Being an authorized insurance company is essential for gaining the trust of consumers and operating legally within Florida.

In contrast, a licensed insurance company generally refers to the same concept, but the term "authorized" is the more precise term used in regulatory contexts. An unauthorized insurance company is one that has not received this clearance and is, therefore, not legally allowed to operate in Florida. Lastly, a captive insurance company is a specific type of insurance company that is created primarily to insure the risks of its parent organization and does not necessarily pertain to the general authorization to operate in the state.