Which type of insurer is incorporated in another state?

A foreign insurer is defined as an insurance company that is incorporated or organized under the laws of one state but is operating in another state. In this context, if an insurer is based in a different state from where it is providing services or doing business, it falls into the category of a foreign insurer. This distinction is crucial in insurance regulation, as it determines the legal and regulatory framework that the insurer must adhere to in various states.

Domestic insurers, on the other hand, are those that are incorporated in the same state where they are conducting business. Reciprocal and fraternal insurers have unique structures primarily focused on specific groups or members rather than their state of incorporation. These definitions help ensure that the regulations and responsibilities of each type of insurer are understood in relation to the states in which they operate.