WASHINGTON STATE INSURANCE exam Already Passed!!

Section 1 Commissioner How is he elected? - Same way as other state officials When does he take office? - Serves for four yerars. Starts wed after the second monday of January What must he do before taking officer? - Execute a bond of $25000 payable to state What are his broad Powers? - 1) Responsible for examining insureres 2) issueing licenses 3) regulatings to help carry out provisions of the WA insurance code Commissioner has what authority? - The Commissioner has the authority to: conduct 1) investigations (including formal hearings) to determine whether any person has violated any provisions of the code; 2) conduct examinations, investigations, and hearings to efficiently administer the code; 3) take action against any insurance company, fraternal benefit society, health maintenance organization (HMO), or heathcare service contractor (HCSC) by revoking or suspending its Washington certificate of authority; 4) fine, revoke, or suspend the licenses of insurance agents, brokers, solicitors, or adjusters; 5) issue cease and desist orders; 6)and bring actions in court regarding violations of the insurance code.If there is cause to believe that anyone is violating the insurance code or any regulation or order made by the Commissioner, the Commissioner may: - issue a cease and desist order; bring an action in court to stop the person from continuing the violation; or both.