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Polymer nanocomposites possess promising high performances as engineering materials, if they are prepared and fabricated properly. Some work has been recently done on such polymer nanocomposites as dielectrics and electrical insulation. This was reviewed in 2004 based on the literatures published up to 2003. New significant findings have been added since then. Furthermore, a multi-core model with the far-distance effect, which is closely related to an "interaction zones", has been proposed from consideration of mesoscopic analysis of electrical and chemical structures of an existing interface with finite thickness. It is speculatively examined in the paper how the model works for various properties and phenomena already found in nanocomposites as dielectrics focusing on electrical characteristics, resistance to high voltage environment, and thermal properties.