A risk may be insured by a non-admitted insurer under what condition?

The correct answer is based on the regulatory framework surrounding surplus lines insurance. A risk may be insured by a non-admitted insurer if one or more admitted insurers have declined the risk. This is often referred to as the "declination rule."

In the context of surplus lines, non-admitted insurers are typically used for risks that are considered too high for admitted insurers to cover. Admitted insurers are those that are licensed and regulated by the state to provide insurance products. If admitted insurers assess the risk as unacceptable and formally decline to offer coverage, it creates a pathway for the risk to be placed with a non-admitted insurer. This process ensures that the risk is still insured, even when the traditional market is unable or unwilling to provide coverage.

The other options do not align with the conditions set for insuring a risk with a non-admitted insurer. For example, trust issues with admitted insurers or reasons related to premium savings do not constitute acceptable grounds for utilizing non-admitted coverage. Similarly, the requirement that two or more admitted insurers must decline the risk is overly stringent and not a standard regulatory practice in surplus lines insurance. Thus, the necessity for just one admitted insurer's declination makes option B the accurate choice.