U. C. D. policies issued by a foreign insurer (an insurer not organized under the laws of California) may contain any provision which is required by the law of the state or country under whose laws the insurer is organized if such provision is not inconsistent with the C. U. I. Code and the regulations of the director, and is not less favorable to the employer or any employee than the provisions of this article.
Cal. Code Regs. Tit. 10, § 2242.9