Bail Bonds Louisiana KeY Exam Questions and CORRECT Answers

A Domestic insurance company - is a foreign insurer to other states - is a domestic insurer w/i the U.S. - is a foreign insurer only to other countries -must be incorporated in at least 2 statesA domestic insurance co. is incorporated in the state within which it is located. It is a domestic insurer within its specific state - ie it is a foreign insurer to other states. A captive insurance co. exists primarily to underwrite the risks of the - parent owner - shareholders - partnersA captive insurance company exists primarily to underwrite the risks of the parent owner. A domestic insurance company is incorporated in the state within which it is located. NoAgreement that lays the legal framework of insurance business - Partner declaration - Policy Declaration - Insurance agent partnership agreement - Shareholder dividend policy - Meeting minutesAn insurance agent partnership agreement is for laying the legal framework of the insurance business. Its not legally required, although such an agreement in place is usually recommended.