What type of market includes insurers that are authorized to write insurance?

The type of market that includes insurers authorized to write insurance is referred to as Authorized Insurers. These are companies that have been granted a license by the state's insurance department to operate within that jurisdiction. Being an authorized insurer means they comply with the regulatory standards set by the state, which includes meeting capital and surplus requirements, and adhering to approved policy forms and rates. This ensures that consumers are protected and that the insurers are financially stable and trustworthy.

Other market types, such as Excess/Surplus Market and Unauthorized Insurers, function differently. The Excess/Surplus Market typically caters to specialized or high-risk coverage needs that authorized insurers may not cover. Unauthorized Insurers, on the other hand, operate without state approval and do not have the same level of regulatory oversight. Thus, consumers using these insurers may face higher risks, and state protection mechanisms, such as guaranty funds, may not apply. Independent Market is a term that could refer to a group of insurers rather than a specific category concerning authorization and regulatory compliance.