ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Alien
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Admitted
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Domestic
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Foreign
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Detailed explanation-1: -How do admitted and non-admitted insurance companies differ? If an insurance company is admitted, it means they’ve met the regulations set by the state Department of Insurance (DOI) in the areas they work. In comparison, non-admitted insurance carriers have not met their state’s requirements.
Detailed explanation-2: -Among the largest categories of insurance companies are accident and health insurers; property and casualty insurers; and financial guarantors.
Detailed explanation-3: -Different Types of Insurers. There are many different types of property and casualty insurers operating in Texas. Stock Insurance Companies. Mutual Insurance Companies. County Mutual Insurance Companies. Farm Mutual Insurance Companies. Lloyds Plan Companies. Reciprocal Exchanges.