PA State Insurance Regulations

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At least ___ days advance notice must be given to the insured of an increase in commercial renewal premium

30 days

Binders for temporary fire insurance may be good up to a period of ___ days

30 days

Cancellation and Non-renewal of Commercial policies

60 days in advance of non renewal 15 days in advance of non payment 15 days in advance due to material misrepresenation

Cancellation or Non renewal of Auto Policies

60 days notice of cancellation or non renewal 15 days nonpayment of premium 15 day material misrepresentation

Total disability benefits ____ % of the employees average weekly earnings

66 2/3rds %

Disability benefit payments begin after a ____ day waiting period

7 days

a lapsed producers license mat be reinstated within _____ year(s) of the license renewal date

1 year

The commissioner must conduct an examination of every licensed insurer at least once every _____ years

5 years

The commissioner must examine rating organizations at least once every _____ years

5 years

Employers myst provide workmen's comp coverage for their employees if they pay ____ or more to one or more employers during the calendar year or employ one employee for ___ days or more.

$1,200 30 days

PA property and casualty guaranty association maximum payment for return of premium is up

$10,000

Burial expenses up to ____

$3,000

PA property and casualty association max pay out for a claim is

$300,000

Maximum producer fine per violation of insurance code

$5,000

A person found guilty of insurance fraud is subject to

$5,000 for the first violation $10,000 for the second violation $15,000 for every subsequent violation

Commissioner must give _____ days notice of a hearing

10 days

Insurers must acknowledge a claim and provide claim forms within _____ working days

10 days

If the disability persists ____ days or more the employee is untied to retroactive disability benefits dating back to the first day of disability

14 days

First party claims must be settled within ____ working days

15 days

Insurers must respond to a commissioner inquiry within ____ working days

15 days

PA auto insurance liability coverage limits

15/30/5 $15,000 per person $30,000 per accident $5,000 per property damage $5,000 medical payments coverage limit

minimum age to obtain license

18 years old

Length of temporary producer license

180 days

Producer licenses are issued for a term of

2 years

FAIR plan cancellation noticed must be given to any policy holder at least ____ days prior to the cancellation

20 days

Notice of injury must be made by the injured employee to the employer within ____ days

21 days

The first compensation payment must not be paid later than ___ days after the employer has knowledge or notice of the employees disability

21 days

pre licensing education requirement

24 hours

Insurer must provide an explanation to the insured if a claim investigation can not be completed within _____ working days

30 days

Life, accident, or health insurance policy forms must be filed and approved by the commissioner. Once forms have been filed they are considered approved after ____ days unless the commissioner rejects them

30 days

Producers time to notify the commissioner of change of address, admin actions or criminal charges

30 days

rates must be filed for ____ days before use

30 days

Cancellation and non renewal for residential policies

30 days notice of cancellation basic property insurance will continue for 180 days after the named insureds death or until the sale of the property which ever occurs first

Default tort option

full tort


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