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To be filed by domestic and foreign insurance companies which are subject to the provisions of Massa

To be filed by domestic and foreign insurance companies which are subject to the provisions of Massa 2025

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The document is the 2007 Form 63-29A, a tax return for ocean marine profits required by domestic and foreign insurance companies in Massachusetts. It outlines the filing requirements, penalties for non-compliance, and instructions for reporting marine premiums, underwriting profits, and various tax credits. The form must be submitted to the Massachusetts Department of Revenue by May 15, 2008, along with any applicable payments.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are insurance companies outside the US called?

Insurance companies that are organized outside the U.S. are called alien insurers. They are distinct from domestic insurers and have specific regulations regarding their operations. Understanding these classifications aids consumers in navigating their insurance options.

What type of insurance is licensed to transact business in a state and has submitted its policies forms and rates to the states insurance department for approval?

What is admitted insurance? An admitted insurance provider is licensed by the state (or states) in which they operate. To continue to provide admitted insurance policies, insurance companies must follow their state department regulations.

Are insurance companies subject to FCRA?

Yes. A federal law, the Fair Credit Reporting Act (FCRA), states insurance companies have a permissible purpose to look at your credit information without your permission. Insurance companies must also comply with state insurance laws when using credit information in the underwriting and rating process.

What is an insurance company formed in a country other than the United States?

Alien Insurer: An insurer formed under the laws of a country or jurisdiction other than the United States of America, its states, districts, territories, and commonwealths.

What is a foreign insurance company?

Proprietary insurers exist to earn a profit for their owners. Proprietary insurers include stock companies and Lloyds of London. Stock insurers are corporations owned by the stockholders who invested in them. The stockholders elect a Board of Directors to oversee the operations of the company.

What is an insurance company formed in a country other than the United States called?

(1) Alien insurer is an insurer formed under the laws of any country other than the United States or its states, districts, territories, and commonwealths. (2) Authorized insurer is an insurer duly authorized by a certificate of authority issued by the commissioner to transact insurance in this state.

What is a domestic insurance company?

A domestic insurer is a type of insurance company that is licensed and operates within a specific state. The term refers to an insurance company that is domiciled in the same jurisdiction where it conducts its business operations.

To be filed by domestic and foreign insurance companies which are subject to the provisions of Massa 2025

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