foreign insurer definition
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TITLE XXXVII 304.1-070 Domestic, foreign, alien insurer defined. (1) A domestic insurer is one formed under the laws of this state; (2) A foreign insurer is one formed under the laws of any state, other than this state; (3) An alien insurer is one formed under the laws of any country other than a state of. the United States.
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Glossary of Insurance Terms ALAE - an estimate of the claims settlement associated with a particular claim or claims. Alien Company - an insurance company formed according to the laws of a foreign country. The company must conform to state regulatory standards to legally sell insurance products in that state.
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Surplus Lines Insurers Foreign surplus lines insurers are required to file financial statements with the National Association of Insurance Commissioners (NAIC) on an annual and quarterly basis, including CPA reports, Actuarial Opinions and Management Discussion and Analysis information by the due dates prescribed by the NAIC.
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Guide to Cargo Insurance Ocean cargo insurance is concerned primarily with international commerce. Basically, anyone who has an insurable interest in a cargo shipment (i.e., anyone who would suffer a loss if the cargo were damaged or destroyed or who would benefit from the safe arrival of the cargo) has a need for an ocean cargo policy.
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- Definition. The risk assumed by the issuer of a foreign exchange contract or debt in the event that the investor goes into default. It is the risk of the marginal, or final, dollar of a transaction or asset going into default.
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Controlled foreign corporation Each of the italicized terms above is defined: 1  A Controlled Foreign Corporation is any corporation organized outside the U.S. (a foreign corporation) that is more than 50% owned by U.S. Shareholders. 2  A U.S. Shareholder is any U.S. person (individual or entity) that owns 10% or more of the foreign corporation.
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- Define foreign: situated outside a place or country; especially : situated outside one's own country — foreign in a sentence situated outside a place or country; especially : situated outside one's own country…
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Top Lower-Sodium Foods Government standards define low sodium as 140 milligrams of sodium or less per serving, but we’ve included a few noteworthy products that cut sodium levels by 50 percent or more. Not seeing your favorite convenience food on this list?
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- foreign policy noun [C or U]. › the ​official ways in which a ​government has decided to ​deal with other countries, in relation to ​trade, ​defence, etc., or a particular ​example of this: The ​President and ​Secretary of ​State had a ​grand ​design for ​foreign ​policy, a ​structure of ​peace.
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Foreign Service Premium (FSP) Foreign Service Premium (FSP) An employer may elect to pay a Foreign Service Premium (FSP) which is an allowance, over and above base pay, for employees who accept expatriate assignment. It has been traditionally intended to recognize adjustments to different cultural, social and business environments, and separation from home country relatives, friends and business associates.
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- Definition of foreign direct investment (FDI): Ownership of a country's businesses or properties by entities not domiciled there. Dictionary Term of Day Articles Subjects Sign Up BusinessDictionary
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What is 'Indemnity Insurance' DEFINITION of 'Indemnity Insurance'. An insurance policy that aims to protect business owners and employees when they are found to be at fault for a specific event such as misjudgment.ypical examples of indemnity insurance include professional insurance policies such as malpractice insurance, and errors and omissions insurance, which indemnify professionals against claims made in the workplace.
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- foreign currency denominated asset definition, foreign currency denominated asset meaning | English dictionary. foreign. 1 of, involving, located in, or coming from another country, area, people, etc. 2 dealing or concerned with another country, area, people, etc.
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- See Section 101(4)(definition of a foreign limited liabilitypartnership). Section 106(b) provides that the laws of this State govern the internalrelations of a domestic limited liability and the liability of its partners for theobligations of the partnership.
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Laws, Regulations & Annotations Retaliatory Tax—Alien Insurer, California Constitution. Under the specific provisions of Section 28(f)(3) of Article XIII of the California Constitution and Insurance Code section 685.2, the domicile of an alien insurer, other than insurers formed under the laws of Canada, is the state in which its principal place of business is located.
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foreign direct investment (FDI) foreign direct investment (FDI) Ownership of a country's businesses or properties by entities not domiciled there. A foreign direct investment can sometimes be a wise decision if you think it has great profit potential for the long term. 18 people found this helpful The estranged businessman kept holdings in America as a foreign direct investment, since he was deported for illegal activity some time ago.
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Summary of Statement No. 133 1 For a derivative designated as hedging the foreign currency exposure of a net investment in a foreign operation, the gain or loss is reported in other comprehensive income (outside earnings) as part of the cumulative translation adjustment.
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Income protection insurance From Wikipedia, the free encyclopedia. Income Protection Insurance (IPI) is an insurance policy, available principally in Australia, Ireland, New Zealand, South Africa, and the United Kingdom, paying benefits to policyholders who are incapacitated and hence unable to work due to illness or accident.rom Wikipedia, the free encyclopedia. Income Protection Insurance (IPI) is an insurance policy, available principally in Australia, Ireland, New Zealand, South Africa, and the United Kingdom, paying benefits to policyholders who are incapacitated and hence unable to work due to illness or accident.
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Foreign Persons A corporation created or organized in the United States or under the law of the United States or of any State, or the District of Columbia, Any estate or trust other than a foreign estate or foreign trust. (See Internal Revenue Code section 7701(a)(31) for the definition of a foreign estate and a foreign trust.), or.
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Foreign Sovereign Immunities Act When the plaintiff's claim is based upon an act by the foreign state which is performed outside the United States in connection with commercial activity outside the United States and which causes a direct effect in the United States.
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- DEFINITION of 'Indemnity Insurance'. An insurance policy that aims to protect business owners and employees when they are found to be at fault for a specific event such as misjudgment.ndemnity insurance is an insurance policy that protects business owners and employees from losses due to failure to deliver expected services.
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- Admitted Insurance. DEFINITION of 'Admitted Insurance'. Insurance purchased from a company that is admitted (or licensed) in the state in which the policy was sold. Admitted insurance must also be sold by an agent who is licensed in that state. Next Up.
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- Along with medical insurance, coverage for repatriation costs is also an important benefit that one should have while traveling outside the home country. If a visiting international student or exchange visitor dies then Repatriation of remains insurance will pay for sending the remains back to the home country.
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- The Following pages list all active status domestic (United States) companies with their NAIC company code, group code, statement type, company status and state of domicile. Alien insurers are listed with their alien. identification number, certified reinsurance identification number (CRIN) and country of domicile.
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Statutory Deposit Requirements for Foreign/Alien Admitted Insurers In order to obtain and maintain a Certificate of Authority in Louisiana, a foreign/alien insurer is required to maintain a statutory deposit in the amount of $100,000.00 in a bank doing business in Louisiana or a savings and loan association charted to do business in Louisiana and pledged to the Louisiana Department of Insurance OR to provide evidence the company maintains a deposit of not less than $500,000.00 in the domiciliary state for the benefit of all policyholders.
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- Full Definition of FOREIGN. 1. : situated outside a place or country; especially: situated outside one's own country.2. : born in, belonging to, or characteristic of some place or country other than the one under consideration.3.oreign. adjective for·eign \ˈfȯr-ən, ˈfaer-\. ˈfär. : tweet located outside a particular place or country and especially outside your own. : country coming from or belonging to a different place or. country