Which term describes a foreign insurer doing business in Louisiana?

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Prepare for the Louisiana Series 103 Insurance Exam with study tools, flashcards, and multiple-choice questions. Ensure you are ready for this essential licensure test by understanding the exam format and gaining essential knowledge for life, health, and accident insurance.

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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