What is the trust fund requirement for an alien insurer doing business in South Carolina?

The correct amount for the trust fund requirement for an alien insurer doing business in South Carolina is based on the financial security regulations established by the state. Specifically, alien insurers, which are those incorporated in another country, must maintain a trust fund to ensure that they can meet their obligations to policyholders in South Carolina.

The requirement is set at $5,400,000. This amount is designed to provide a safety net for insured individuals in the event that the alien insurer cannot fulfill its contractual obligations. The trust fund acts as a financial assurance, reflecting the state's commitment to protecting its residents and ensuring that insurers have sufficient resources to cover claims.

The other amounts mentioned do not align with the established requirement for alien insurers; therefore, they are not applicable in this context. It is important for students to be aware of these specific financial regulations when preparing for their licensing exams or working in the surplus lines market.