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The Excalibur Insurance Company, domiciled in Iowa, transacts business legally in Nebraska. In Nebraska, Excalibur is a(n): A. domestic insurance company B. non-admitted insurance company C. foreign insurance
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The Excalibur Insurance Company, domiciled in Iowa, transacts business legally in Nebraska. In Nebraska, Excalibur is a(n):

A. domestic insurance company

B. non-admitted insurance company

C. foreign insurance company

D . alien insurance company

User Amin K
by
4.9k points

1 Answer

3 votes

Answer:

C. foreign insurance company

Step-by-step explanation:

  • In the US, an insurance company that operates in other states through agents is called a foreign insurance company . These companies are incorporated from another home-state but can legally operate in other states as well.
  • The Excalibur Insurance Company, domiciled in Iowa, transacts business legally in Nebraska. In Nebraska, Excalibur is a foreign insurance company.
  • It is because the Excalibur Insurance Company is incorporated in Iowa so it becomes a foreign company in Nebraska.
User Ryan Tuosto
by
5.2k points
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