How often must Every ensure doing business in California report its financial condition to the commissioner?

900. (a) On or before the first day of March of each year every insurer doing business in this state shall make and file with the commissioner, in the number, form, and by the methods prescribed by the commissioner, statements exhibiting its condition and affairs as of the previous December 31.

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Rhode Island Rules and Regulations Common to All Lines

Who might receive dividends from a mutual insurer?

As a mutual owner of the company, you will share in its success. If the company meets or exceeds its financial goals for the year, it will often return a portion of its profits back to its policyholders in the form of dividends, similar to how a stock company pays dividends to its shareholders.

What type of insurance company is domiciled in England but conducts business in Florida?

A company incorporated or organized under the laws of any foreign nation, province, or territory. For example: A company's home office is located in another country and its insurance business is conducted in Florida. In Florida, this company would be known as an Alien insurer.

What is the maximum fine for transacting insurance without a license in Georgia?

Any insurer which willfully violates this article may be fined not more than $100,000.00. Any individual who willfully violates this article may be fined in his or her individual capacity not more than $100,000.00 or be imprisoned for not more than one to three years, or both.

Which of the following is considered the responsibility of the California Commissioner of Insurance?

Under the Commissioner's direction, the Department uses its authority to protect Californians from insurance rates that are excessive, inadequate, or unfairly discriminatory, oversee insurer solvency to pay claims, set standards for agents and broker licensing, perform market conduct reviews of insurance companies, …

Life Insurance Exam Review: Provisions, Options & Riders, Beneficiaries, Accelerated Benefits

What is the NAIC annual statement?

NAIC Annual Statement Blank means the form of annual statement for life and accident and health insurance companies-association edition, as prescribed from time to time by the NAIC.

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Who regulates insurance companies in California?

In California, health insurance is regulated by the California Department of Insurance (CDI). Our mission is to protect consumers, foster a vibrant and stable insurance marketplace, and enforce laws related to health insurance and the health insurance code fairly and impartially.

Who might receive dividends from a mutual insurer quizlet?

Dividends from a mutual insurance company are paid to whom? Policyholders- Mutual insurance companies are owned by policyowners, to whom dividends are paid.

Who shares the profits of the mutual insurance companies?

A mutual company is owned by its customers, who share in the profits. They are most often insurance companies. Each policyholder is entitled to a share of the profits, paid as a dividend or a reduced premium price.

Are dividends from a mutual insurer subject to taxation?

Question 7: Why are dividends from a mutual insurer not subject to taxation? Because dividends are considered to be a return of premium <- Dividends are not subject to taxation because paying dividends is equivalent to returning a premium.

What type of insurance company is domiciled in England but conducts business in the US?

A company incorporated or organized under the laws of any foreign nation, province, or territory. For example: A company's home office is located in another country and its insurance business is conducted in Florida.

Insurance Regulation and Legislation

Which type of insurance company is not licensed to transact insurance in Florida?

An unau- thorized entity is an insurance company that is not licensed with the Florida Department of Finan- cial Services.

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What is the maximum fine for transacting insurance without a license in GA?

Driving without insurance in Georgia can incur serious penalties, depending on the circumstances. You could face up to $185 in fines, a year in jail and lose your driving privileges.

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How much are insurance fines in Georgia?

Driving without insurance in Georgia can incur serious penalties, depending on the circumstances. You could face up to $185 in fines, a year in jail and lose your driving privileges.

How much is a ticket for driving without insurance in Georgia?

Driving without insurance is considered a misdemeanor charge in Georgia. This means that if you are convicted of driving without insurance, you will subject to a fine between $200.00 and $1,000.00, up to 12 months in jail, or both. In addition, you will lose your license for at least 60 days up to 90 days.

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Can you insure a car in Georgia without a license?

Can I get car insurance without a driver's license? Yes, you can buy insurance and register a car even if you don't have a driver's license, but it's not always easy. You will likely need to list yourself as an excluded driver on the policy, and some insurers still might not sell you a policy.

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