An insurer incorporated in this state is called what?

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Multiple Choice

An insurer incorporated in this state is called what?

The key idea is how insurers are categorized by where they are incorporated relative to where they operate. If an insurer is incorporated in the same state where it does business, it is a domestic insurer. That’s why, for a company formed in this state, the correct label is domestic. A foreign insurer would be one incorporated in another state, and an alien insurer would be incorporated outside the United States. A reinsurer, meanwhile, is a company that provides reinsurance to other insurers rather than issuing direct policies to the public.

The key idea is how insurers are categorized by where they are incorporated relative to where they operate. If an insurer is incorporated in the same state where it does business, it is a domestic insurer. That’s why, for a company formed in this state, the correct label is domestic. A foreign insurer would be one incorporated in another state, and an alien insurer would be incorporated outside the United States. A reinsurer, meanwhile, is a company that provides reinsurance to other insurers rather than issuing direct policies to the public.

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