Chapter 7
If a cease and desist order is invoked how many days do the Commissioner have to notify the receipt?
10 days
The Commissioner must have rules or regulations approved by the Attorney General and on public file for at least ______ ______before a rule/regulation becomes effective.
10 days
Any demand for a hearing must be held within ____ _____ after receipt of such demand?
30 days
An insurer that is qualified to transact insurance in Georgia may be authorized to transact any one kind or combination of kinds of insurance except as follows:
A reciprocal insurer may not transact life insurance A Lloyd's insurer may not transact life insurance; and A title insurer is authorized to transact only title insurance
No person may act as an insurer or transact insurance in Georgia unless a __________ __ ________________ has been granted by the Commissioner.
Certificate of Authority
To qualify for a certificate of authority, an insurer must comply with the provisions of the law as a domestic insurer as one of the following:
Incorporated stock or mutual insurer Fraternal benefit society Nonprofit hospital or medical service corporation Lloyd's association; or Reciprocal insurer
The chief officer of Georgia's Department of Insurance is?
Insurance Commissioner
The following classes of insurance may be transacted:
Life, accident, and sickness Property, marine, and transportation Casualty Surety Title Health Maintenance Organization
Four insurance transaction are:
Solicitation and inducement, Preliminary negotiations, Effectuation of an insurance contract, Transaction of matters that result from the effectuation of the contract
the Commissioner must give at least ____ _____ advance notice of the time and place of a hearing stating the matters to be considered.
10 days
The Commissioner must provide a copy of the proposed examination report to the insurer examined at least _____ ____ before the report is filed?
20 days
The Commissioner must issue a final order within ____ _____ after a hearing is concluded.
30 days
Insurance Commissioner is elected in office for how many years
4
Domestic insurers must be examined at least once every
5 years
If the Commissioner finds accounts and records to be inadequate or incorrectly kept or posted, the person being examined will have _____ ____ upon notification to correct the accounting.
60 days
The Commissioner has _____ _____ to approve or disapprove an application.
90 days
