Alien Insurer

AAA

DEFINITION of 'Alien Insurer'

An insurer that is formed following the laws of one country and offers insurance or reinsurance in another country. For example, an insurer that is formed under the laws of Germany that wishes to offer insurance in the United States is an alien insurer. The company would have to conform to the rules and regulations of each state in which it plans to provide insurance services.

Also called "alien company".

INVESTOPEDIA EXPLAINS 'Alien Insurer'

A United States company offering coverage abroad would also be an alien insurer. An alien insurer is any insurer that is formed in a country foreign to where some or all of its business will be conducted. Regardless of where the insurer is located, it must follow the rules and regulations governing insurance practices in each locale where services are to be offered. In the United States, different states have particular requirements for allowing alien insurers to operate within the state.

RELATED TERMS
  1. Additional Insured

    A type of status associated with general liability insurance ...
  2. Alien Corporation

    A corporation that was created in another country. Alien corporations ...
  3. Liability Insurance

    Any type of insurance policy that protects an individual or business ...
  4. Named Perils Insurance Policy

    A home insurance policy that only provides coverage on losses ...
  5. Premium

    1. The total cost of an option. 2. The difference between the ...
  6. Insurance

    A contract (policy) in which an individual or entity receives ...
Related Articles
  1. The History Of Insurance
    Home & Auto

    The History Of Insurance

  2. How An Insurance Company Determines ...
    Home & Auto

    How An Insurance Company Determines ...

  3. Bundle Your Insurance For Big Savings
    Home & Auto

    Bundle Your Insurance For Big Savings

  4. The History Of Insurance In America
    Home & Auto

    The History Of Insurance In America

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center