What type of insurance company is formed under the laws of Indiana?

A domestic insurance company is one that is formed and operates under the laws of a specific state, in this case, Indiana. This means that the company was established and is regulated by the state's insurance department, adhering to the legal framework, rules, and regulations set forth by Indiana law. It is important for insurance companies to be licensed in the state where they operate, and a domestic company is recognized as such because it is native to Indiana.

Foreign insurance companies, on the other hand, are those that are incorporated in one state but operate in other states. An alien insurance company refers to insurers that are formed under the laws of another country. Non-admitted insurance companies do not have a license to operate in a specific state but can offer coverage through surplus lines brokers under certain conditions. Understanding these distinctions is crucial for grasping the regulatory landscape of insurance in Indiana and the respective jurisdictions of different types of companies.