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Policy Effective Date

What is an Policy Effective Date?


The date on which an insurance binder or policy goes into effect and from which time protection is provided.


Understanding Policy Effective Date


Unlike an admitted carrier, non-admitted carriers are not backed by the state. They are not required to sell policies that adhere to the same standards as admitted carriers. However, non-admitted carriers are often still regulated by states they do business in.

Due to these less rigid standards, non-admitted carriers have more flexibility when designing coverage, selling policies, and writing risks. Companies that are struggling to find coverage in the admitted market often have more success in the non-admitted market.

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