State RegulationsFL specificDifficulty 2/5
An insurer is incorporated in London under the laws of the United Kingdom and is admitted to transact insurance in Florida. How is this insurer classified in Florida?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under the Florida Insurance Code, an insurer organized under the laws of a country outside the United States, such as the United Kingdom, is an alien company in Florida. Admission and a certificate of authority allow it to transact lawfully here, but they do not change its alien classification.
Why the other options are wrong
- A) Admission authorizes transacting; only formation under Florida law makes an insurer domestic.
- B) Foreign companies are formed in other United States jurisdictions, not in foreign nations like the United Kingdom.
- C) A properly admitted alien insurer is registered and lawful; it is simply classified as alien, not unregistered.
Memory hook
London charter = alien in Florida.