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Which of the following would be considered an alien insurer


Is Lloyds an alien insurer?

Lloyd's writes a huge amount of business in the US. Approximately 41% of its global premiums are held by US customers, worth about $15 billion. Technically speaking, the Lloyd's syndicated underwriters are 'alien insurers'.

What is the difference between a foreign and alien insurer?

(2) A "foreign" insurer is one formed under the laws of the United States, of a state or territory of the United States other than this state, or of the District of Columbia. (3) An "alien" insurer is one formed under the laws of a nation other than the United States.

Who is a foreign insurer?

Foreign Insurer — from the U.S. perspective, an insurer domiciled in the United States but outside the state in which the insurance is to be written. In effect, it is a domestic insurer doing business outside of the state in which it is domiciled.

What is a foreign insurer quizlet?

Foreign Insurer. an insurer that writes business in a state but is incorporated in another state.

What is alien insurer compared to foreign insurer?

Alien Insurer Compared to Foreign Insurer. In the United States, an insurance company represented by an agent in a state other than the company's incorporated state is considered a foreign insurer.

Who regulates alien insurers in the US?

For example, in the U.S., different states have their specific requirements for alien insurers operating under their jurisdiction. Chief insurance regulators from each state and territory in the U.S. collectively govern the National Association of Insurance Commissioners (NAIC).

When an agent is handling premiums that belong to an insurance company?

When an agent is handling the premiums that belong to an insurance company, they are acting in a fiduciary capacity. a. Insurer b. Agent d. Applicant The beneficiary is the person who receives the benefits from the insurance policy. THIS SET IS OFTEN IN FOLDERS WITH...




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    Which of the following would be considered an insured's product?

    Which of the following would be covered by a home insurance policy

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