Definition of alien insurance company
An Alien Insurance Company is an insurer that has incorporated or formed in one country and provides its service to another country. This insurance company has to follow the rules and regulations of that country where it provides its service. For example, an insurance company is incorporated in United Kingdom and provides its service in USA is known as Alien Insurance Company.
In USA, every state has some particular practice and requirements to allow alien insurer for offering its services. To carry on its business Alien insurer must follow the local insurance laws and regulations.
Some of Alien Insurer in USA are CNA Insurance Company Limited, Arch Insurance Company (Europe) Limited, Great Lakes Insurance SE. These kind of companies also known as “Alien company”.