In Florida, what is an insurer called if it is domiciled and incorporated in the state?

In Florida, an insurer that is both domiciled and incorporated within the state is referred to as a domestic company. This classification is significant in the insurance industry because it informs regulatory frameworks, tax responsibilities, and compliance requirements specific to that state. A domestic company operates under Florida state laws and is subject to the jurisdiction of Florida's insurance regulatory authority.

The terminology surrounding insurance companies is essential for understanding how they operate across different state lines. For example, a foreign company would be one that is incorporated in another state but operates in Florida, while an international company typically refers to an insurer that does business worldwide or is incorporated outside the United States. Adjacent company is a term not used in insurance classifications, making it an inaccurate option. Thus, the correct identification of an insurer incorporated and domiciled in Florida as a domestic company is crucial for anyone studying Florida's insurance laws.