Laws Flashcards
How long is the commissioner in office
6 years
When does a commissioner examine a domestic company
Once every 5 years
Policies must be filed for approval
60 days beforehand
Commisioner must give how much time in notice of a hearing
15 days
A hearing must be held
45 days
Anything pending after a hearing
45 days
Rehearing request must be filed
30 days after the first hearing
Unfair trade practice
1000 dollar fine per occurrence 10000 aggregate limit
Willfully and knowingly
5000 fine occurence 100000 dollar limit
Violated cease and desist order
10000 fine
Repeat violations after will revoke a license
20 days
In general practice unfair trade
250000
Maximum civil penalty
5000 30
Licensees have to demand a renewal
10 days
Appointed agent
15 days
Commissioner has how long to verify an appointment and how long to say no
30 days if ineligible 5 days
Renewal appointment fees
Midnight may 31st
Producers must report any action taken against them
Within 30 days
Insurance fraud reporting
14 days
Notify claimant how many days
15 calendar days
Begin investigating claim
15 working days
Provide notice to the claim
15 working days
Pay a claim
90 days
Medical professionals liability claim
10 working days
Deny a claim
10 days
Notify the claimant if it takes more than 30 days
15 business days
Commissioner notifies insolvent
3 days
Commissioner notifies insolvent
3 days
Auto non renewal
45 days
Physical damage deductibles
100 250 500
Medical payments
1000 in increments up to 5000
Malpractice
60 days
