The term comprises (a) subject of a hostile stat, and (b) persons of any nationality carrying on business in a hostile state.
Insurance Encyclopedia
Alien Insurance Company
If an insurance company is incorporated in a country other than the U.S. but is doing business within the U.S., it is known as an alien insurance company. For example, Lloyds London is an alien insurance company in the U.S. Many states have additional financial and reporting requirements to ensure the company is solvent and reputable. The alien company may operate as an admitted or approved non-admitted insurer in a state as long as it meets the financial and reporting requirements for each.Additional types of insurance company designations are domestic and foreign. Since an insurance company is incorporated in only one state and in that state the company is known as a domestic insurance company. In all other states the company operates, it is known as a foreign insurance company. (See Domestic Insurance Company and Foreign Insurance Company for additional information).
Alien insurer
Insurance company residing and incorporated under the laws of a foreign country (e.g., Canada, England). Also called alien carrier or alien company.
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An insurance company formed under the laws of a country other than the one it is doing business in.
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US: An insurer domiciled in and licensed under the laws of a country outside a given jurisdiction. For example, from a U.S. perspective, a Bermuda insurer would be an alien insurer.
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An insurer formed under the laws of a different country than the one it operates in.
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An insurer incorporated in a foreign country, doing business in a given state.
Alien reinsurer
A non-U.S. domiciled reinsurer writing reinsurance in the U.S.
Alienate
To put with title to property. Thus, public liability policies cover the liability of the insured arising out of a condition or conditions in premises alienated by him, but do not cover liability for damages to the premises themselves resulting in from such a condition.
Alienated premises
Property that has been sold by an insured.
Aligned Member
A corporate member of a syndicate that is directly or indirectly owned by the same firm that owns the managing agent of the syndicate.
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UK: Corporate member of a Lloyd’s syndicate under common control with the managing agent of that syndicate.
Alignment of incentives
Phrase used in a managed care contract to describe the financial arrangements between physicians and hospital facilities that let both parties share in the risks and rewards of controlling costs and increasing income.
Alimony Insurance
Insurance designed to protect the insured against default in connection with payment of child support and alimony.
ALJ
See: administrative law judge (ALJ).