Alien Insurer
Categories: Insurance, Regulations, Incorporation
Someone has to insure the Millennium Falcon, right? Maybe that's how Jaba the Pizza Hut got started.
Insuring spaceships might be what an alien insurer did a long time ago in a galaxy far, far away. But right now, in a galaxy right here, an alien insurer has nothing to do with weird space creatures. It has to do with foreign countries.
An alien insurer is an insurance company that is headquartered in a country other than the one in which it is doing business. It's GEICO selling life insurance in Nairobi.
These companies still have to follow the insurance rules that govern the industry in the places where they're doing business. However, depending on the locality (either another country where a U.S. insurer is setting up shop, or a particular U.S. state where a foreign company has some interest), there may be special requirements that an alien insurer has to follow.
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