Property and Casualty Indiana Laws questions with correct answers

Is insurance regulated by the state or federal government? CORRECT ANSWER state What branch of government is the Indiana Department of Insurance? CORRECT ANSWER executive branch (with quasi-legislative and quasi-judicial responsibilities) due process means CORRECT ANSWER notice and hearing What quasi-legislative and quasi-judicial responsibilities can the Indiana Department of Insurance partake in? CORRECT ANSWER promulgate rules and regulations that producing agents must follow, and can conduct hearings and levy administrative penalties such as fines and/or licensing revocation Who is the chief executive officer of the Indiana Department of Insurance? CORRECT ANSWER Indiana Insurance Commissioner Who is the commissioner appointed by? CORRECT ANSWER the governor How long does the commissioner serve? CORRECT ANSWER as long as the governor is happy with his performance What must the commissioner do in order to become commissioner? CORRECT ANSWER post a $50,000 bond to show that he is willing to do good work