General Insurance
An insurer formed under the laws of Connecticut writes business in New York. How is it classified in New York?
Answer and explanation
Answer: B. An insurer formed in another state of the United States is foreign in the state where it does business. Domestic means formed in that state, alien means formed in another country, and whether it is admitted is a separate question of authority rather than of formation.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, domestic, foreign, and alien
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- Which feature identifies a fraternal benefit society?
621 New York questions like this one.
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