Question

The Royale Insurance Company, domiciled in Toronto, Canada, transacts business legally in New York. In New York, Royale is classified as a(n):

A. foreign insurance company

B. alien insurance company

C. unauthorized insurance company

D. domestic insurance company

Answer 1

Option B

Step-by-step explanation:

An alien insurance company is an insurance provider incorporated under the laws of foreign coverage in a country other than the company's home country. For instance, a company's home office is located in Toronto, Canada, and its insurance business is done legally in New York. This type of company would be known as an alien insurer because it is formed under the laws of another country other than the United States of America.