Texas Life and Health Insurance

commissioner of insurance- notice of hearing

If the Department of Insurance finds that a licensee has violated the Insurance Code, it may report this to the Commissioner and recommend an administrative penalty. Within 14 days of this report, the Department must give written notice to the person charged with the violation. This notice must summarize the alleged violation, state the amount of the recommended penalty, and inform the person that he has a right to a hearing on the allegation and the amount of the penalty During a hearing, the Commissioner may: ■■ administer oaths ■■ examine and cross-examine witnesses ■■ receive oral and documentary evidence ■■ subpoena witnesses ■■ require the production of books, papers, records, correspondence, or otherdocuments relevant to the inquiry

commissioner of insurance- general powers and duties status of complaints

If the Department of Insurance receives a written complaint filed against an insurer or producer, the Department will, at least quarterly and until the matter is resolved, notify each party to the complaint of the complaint's status unless doing so would jeopardize an undercover investigation

commissioner of insurance- general powers and duties

The Commissioner administers, enforces, and carries out the provisions of the Texas insurance code (the state's insurance laws) and other applicable laws, including the calculation of insurance reserves

commissioner of insurance- investigation of hearing

The Commissioner has the power to examine and investigate the affairs of every person engaged in the insurance business in Texas to determine whether the person has engaged in an unfair method of competition or in any unfair or deceptive trade practices or has in any other way violated the insurance code

commissioner of insurance- general powers and duties electronic transfers

The Commissioner regulates the electronic transfer of any fee, guaranteed fund, or other money owed to or held for the state

commissioner of insurance- general powers and duties inquiries

The Department may address a reasonable inquiry to any insurance company, including a Lloyd's plan or reciprocal or interinsurance exchange, or to an agent or other holder of an authorization relating to, the person's business condition or any matter that the Commissioner considers necessary for the public good regarding this Department A person receiving an inquiry shall respond to the inquiry in writing not later than the 15th day after the date the inquiry is received If the department receives written notice from the person that additional time is required to respond to the inquiry, the department shall grant a 10-day extension of the time to respond to the inquiry. A response made under this section that is otherwise privileged or confidential by law remains privileged or confidential until introduced into evidence at an administrative hearing or in a court. The Department will keep records of inquiries

commissioner of insurance- general powers and duties reinsurance reserves for certain insurers

The Department of Insurance will compute the reinsurance reserve for all unexpired risks of every insurer (other than life insurance companies) doing business in Texas

commissioner of insurance- duties of the department

The Department shall: ■■ regulate the business of insurance in this state ■■ administer the workers' compensation system of this state ■■ ensure that this code and other laws regarding insurance and insurance companies are executed ■■ protect and ensure the fair treatment of consumers ■■ ensure fair competition in the insurance industry in order to foster a competitive market

commissioner of insurance- examination of records

The Department will examine an insurer as often as considered necessary, but not less frequently than once every five years. Examinations will cover the insurer's activities from the date of the last examination until December 31 of the year preceding the year in which the examination is occurring. The Department may subpoena documents and witnesses during the examination a. examinations analyze the insurer, its financial condition, its ability to meet its liabilities, and its compliance with state laws b. this examination requirement applies to insurers authorized to transact business in Texas, including foreign insurers c. an agent or insurer receiving an examination inquiry must respond to the inquiry in writing within 10 days

commissioner of insurance

The governor appoints the Commissioner for a two-year term ending on February 1 of each odd-numbered year. The appointment is subject to the advice and consent of the state senate. The Commissioner must be a competent and experienced administrator, be well informed about insurance and insurance regulation, and have at least five years' experience as an executive in the administration of business or government, or as a practicing attorney or certified public accountant. The Commissioner must provide a $50,000 surety bond