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West Virginia Property and Casualty Law UPDATED Exam Questions and CORRECT Answers
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Insurance commisioner •Appointed by the governor •6 year term •must sever all ties with any insurance company except as a claimant. Examination of insurers •Must examine each domestic insurer at least once every five years, and as often as deemed necessary. •May examine an alien or foreign insurer licensed to transact insurance in this state at least once every five years. Insurance examination cost The cost must be paid by the company being examined. Refusal of examination penalty License will be revoked.
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