Non-admitted insurance: Foreign companies are only permitted to sell insurance if they are registered in the US.

Premium tax paid by insured: Varies from state by state, but the rate currently ranges from 0.5% to 4.265%.

Regulator: Insurance regulation in the US is decentralised and handled on a state-by-state basis.

Overview: The US financial system is undergoing a tumultuous period, with the government intervening in large corporations.

Within the US, a Federal excise tax is imposed where premiums are paid to a non-US insurer for US risks, although a number of European countries (including the UK) have treaties with the US, which excludes them from this tax as a result.Each of the 50 states in the US has its own rules relating to the sale, purchase and taxation of insurance.

Overall risk rating: very low