REINSURANCE: A U.S. domiciled insurer which is domiciled (incorporated) in a state other than the jurisdiction of the insured.
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Name given to an insurance company based in one state by the other states in which it does business.
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Within a particular state, insurance companies are designated as domestic, foreign, or alien. In the state where an insurance company is incorporated it is known as a domestic insurance company. In all other states where it operates it is known as a foreign insurance company. An insurance company based in another country is known as an alien insurance company in the U.S.. Both foreign and alien insurance companies have to meet stricter financial and reporting requirements. This is to ensure the public that the foreign or alien company is solvent and reputable.