Which term describes a foreign insurer doing business in Louisiana?

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Study for the Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Exam. Familiarize yourself with key concepts through engaging questions and explanations. Prepare effectively for your exam!

Multiple Choice

Which term describes a foreign insurer doing business in Louisiana?

Explanation:
Foreign describes an insurer organized under the laws of another state or U.S. territory that does business in Louisiana. A domestic insurer is one formed under Louisiana law and doing business there, while an alien insurer is organized outside the United States. “National” isn’t the standard regulatory term used for this classification. So a foreign insurance company is the correct way to describe a company doing business in Louisiana but not domiciled there.

Foreign describes an insurer organized under the laws of another state or U.S. territory that does business in Louisiana. A domestic insurer is one formed under Louisiana law and doing business there, while an alien insurer is organized outside the United States. “National” isn’t the standard regulatory term used for this classification. So a foreign insurance company is the correct way to describe a company doing business in Louisiana but not domiciled there.

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