Stock insurer: owned by stockholders; profits can be paid out as shareholder dividends. Usually issues non-participating policies.

Mutual insurer: owned by its policyowners; divisible surplus is returned as policy dividends on participating policies. New York Life is a well-known mutual.

Fraternal benefit society: a religious, social or fraternal organization that insures only its members.

Government insurer: programs such as Social Security, Medicare and federal flood insurance.

Admitted (Ins. Code §24): entitled to transact insurance in California, having met the state's conditions; it holds a certificate of authority.

Nonadmitted (§25): not entitled to transact insurance in California.

Domestic (§26): organized under California law.

Foreign (§27): organized under the laws of another jurisdiction, such as Nevada or New York. New York Life is a foreign insurer in California.

Alien (§1580): a foreign insurer organized outside the United States.