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Alien Insurer

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Alien Insurer
An insurance company that is organized according to the laws of another jurisdiction, especially another country or state. An alien insurer must alter its practices and perhaps separately incorporate if it wishes to enter a different jurisdiction.


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Prohibits a state from prohibiting a surplus lines broker from placing nonadmitted insurance with, or procuring nonadmitted insurance from, a nonadmitted insurer domiciled outside the United States and listed on the NAIC International Insurers Department Quarterly Listing of Alien Insurers.
An alien insurer wishing to accept surplus lines insurance typically starts the process with an application for inclusion on the Quarterly Listing of Alien Insurers published by the International Insurers Department of the National Association of Insurance Commissioners (NAIC).
The proposed new agency would be a privately chartered corporation run under the aegis of the National Association of Insurance Commissioners, and in that regard it would resemble the new agency aimed at resolving the alien insurer collateral controversy.
 
 
 
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