What type of insurer is formed under the laws of another state?

A foreign insurer is defined as an insurance company that is organized under the laws of one state but does business in another state. When a company is formed in a different state from where it operates, it is categorized as foreign in the context of insurance regulation. This classification is important for understanding regulatory requirements and compliance since each state governs insurance business conducted within its borders.

In contrast, a domestic insurer is one that is incorporated and operates within the same state. An alien insurer is one that is incorporated outside of the United States, regardless of functioning in various states within the US. The term "international" typically does not pertain to the legal classifications of insurance companies and can create confusion, as it does not refer to state operations or legal jurisdictions in the context of most insurance practice. Thus, the identification of a foreign insurer accurately reflects the context of the question.