Chapter 8 Ga Life & Health State Laws

solicitation, Preliminary, contract,effectuation

An insurance transaction includes any of the following: ____________ and inducement __________ negotiations Effectuation of an insurance ________ Transaction of matters that result from the ______________of the contract

reciprocal , Lloyd's, title

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 ___________insurer may not transact life insurance A ___________insurer may not transact life insurance; and A ______insurer is authorized to transact only title insurance

notice to show cause

Before any proposed action is taken, a ______ _____ ______ _____ will state the proposed action to be taken unless such person can show cause as to why the action should not be taken.

often, 5

The Commissioner, or a person authorized by the Commissioner, may conduct an examination of any insurer authorized to do business in this state as ______ as necessary, but domestic insurers must be examined at least once every ___years.

representatives

The _____________ of the person being examined must facilitate such examination and aid the examiners

Commisoner

The _______________ enforces and executes the duties imposed by the Insurance Code

commissioner

The ________________ may make reasonable rules and regulations necessary for the administration and enforcement of the Insurance Code

10

The cease and desist order will include a notice of opportunity for a hearing, which must be requested within ____ days of receipt of the order.

4

The chief officer of Georgia's Department of Insurance is the Insurance Commissioner, who is elected to office for a term of ______ years.

accident, transportation,Title

The following classes of insurance may be transacted: Life, ________, and sickness Property, marine, and ________. Casualty Surety _________ Health Maintenance Organization

all costs

The insurer or other person so examined will pay____ ______ of the examination, including actual travel and living expenses.

10,000 , license,

The penalties for a violation of a cease and desist order are: A fine of up to $_________ per violation Suspension or revocation of the person's _____________if the person knew he/she was in violation Such other relief as is reasonable and appropriate

stock, Fraternal, Fraternal , Reciprocal

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 ______ or mutual insurer _________ benefit society ____________ hospital or medical service corporation Lloyd's association; or ___________ insurer

every person

_______ ________ being examined must produce and make freely accessible to the Commissioner all records, accounts, documents and files relevant to the examination.

cease and desist order

If it appears that a person has engaged in, is engaging in, or is about to engage in a prohibited act, the Commissioner may issue a ______ and ______ order if it is in the public's best interest to prohibit that person from continuing such act, practice, or transaction.

30

The Commissioner will hold a hearing if required by a provision of the law or a written demand made by an aggrieved person. Any demand for a hearing must be held within ___days after receipt of such demand.

1

In addition to issuing a cease and desist order, the Commissioner has the authority to: Place the violator on probation for up to__ year for each act in violation Assess a penalty of up to $2,000 for each act or violation, or up to $5,000 per violation if the person knew or reasonably should have known he/she was in violation

10

In general, the Commissioner must give at least ___days' advance notice of the time and place of a hearing stating the matters to be considered.

Commissioner

No person may act as an insurer or transact insurance in Georgia unless a Certificate of Authority has been granted by the ______________.

every person

The Commissioner has the power to examine and investigate into the affairs of ________ __________engaged in the insurance business in Georgia, in order to determine whether the person has been or is engaged in any unfair method of competition, or in any unfair or deceptive act or practice prohibited by insurance laws and regulations

Attorney General , 10

The Commissioner must have rules or regulations approved by the ___________ ___________and on public file for at least ____ days before a rule/regulation becomes effective.

30

The Commissioner must issue a final order within ___ days after a hearing is concluded.

20

The Commissioner must provide a copy of the proposed examination report to the insurer examined at least_____ days before the report is filed.

domestic, 1.5 million

To qualify for an original certificate of authority to transact one or more classes of insurance, a _____________ insurer must possess and maintain a minimum of $_____________ in capital stock or in surplus. Foreign and alien insurers will only be authorized to transact insurance in this state if additional minimum required reserves are maintained.