What defines a foreign insurance company?

A foreign insurance company is specifically defined as an insurance entity that is licensed or chartered in a different state than where it is currently operating. In this context, a company that operates in Georgia but was originally licensed in another state fits this definition perfectly. The concept of "foreign" is used in this instance to distinguish between companies based on their licensing and operational geography rather than their country of origin.

Considering the other options, companies chartered in another country typically refer to international firms, which may not fall under the typical usage of "foreign" in state insurance regulation. Companies chartered in Georgia are domestic insurers, and those operating solely within a state are considered local entities, not foreign ones. Thus, the definition of a foreign insurance company aligns with the correct choice of those operating in Georgia that were originally licensed in another state.