Delaware gState
g (LIFE)
DELAWARE STATE (LIFE) WITH ALL ANSWERS VERIFIED
1.Cease gand gdesist g-: gto gstop gor gdiscontinue
2.Commission g-: gpayment gto gthe gagent gby gthe ginsurance gcompany
gfor gplacing ginsurance, gusually ga gpercentage gof gthe gpolicy
gpremium
3.Commissioner g-: gthe ghead gof gthe gState gDepartment gof gInsurance
4.Exempt g-: gnot gsubject gto gan gobligation
5.Solvency g-: gability gto gmeet gfinancial gobligations g(e.g. gan
ginsurance gcompany gmaintains genough gassets gto gpay gclaims)
6.Promulgate g-: gto gmake gpublic, gto gput ginto gaction g(e.g. glaws, gcourt
gdecrees, gand gsimilar)
7.Reciprocity g-: ga gmutual ginterchange gof grights gand gprivileges
8.Statute g-: ga gformal gwritten glaw genacted gby glegislature; ginsurance
gstatutes gcan gbe gfound gin gthe gstate gInsurance gCode
9.Subpoena g-: gan gorder gfor gsomeone gto gappear gas ga gwitness gor
gsubmit gtestimony gor gevidence
10.How gis ga gInsurance gCommissioner gchosen gand ghow glong gdo gthey
gserve?: g-
-chosen gby gqualified gelectors gof gthe gstate gat ggeneral gelections
-commissioned gby gthe gGovernor gfor ga gterm gof g4 gyears.
11.What gare gthe ginsurance gcommissioners gduty?: g-Grant gor gdeny
gapplications gfor gCertificates gof gAuthority
-Examine geach ginsurer, grating gorganization, gor gany gother gorganization go
gassociation gauthorized gto gtransact ginsurance gin gthis gstate
-Enforce gand gexecute gthe gduties gimposed gby gthe gInsurance gCode
1 g/
g23
, Delaware gState
g(LIFE)
-Adopt gand gpromulgate grules gand gregulations
-Have gthe gpowers gand gexpressed gauthority gto gcarry gout gall gduties
-Enforce gpayment gof gfee, gcharges gand gtaxes
-Have gadditional grights, gpowers gand gduties gprovided gby gother glaws gof
gDelaware.
12.What gcant gthe gcommissioner gdo?: gcannot gset gpremium grates gor
gestablishes gfines gand gpenalties g(those gare gdefined gby gstate glaw).
13.Who gdoes gthe gcommissioner gregulates gand gwhat gis gthe gpurpose?: g-
regu- glates ginsurance gcompanies gauthorized gto gdo gbusiness gin gthis
gstate.
-ensure gthat gthe gcompanies gremain gsolvent gand gconduct gbusiness gin
gcompliance gwith
2 g/
g23
, Delaware gState
(LIFE)
g
state glaws gand gregulations gpertaining gto glicensing, gpolicy gforms, grates,
gclaims, gand gmarket gconduct.
14.How goften gcan gthe gcommissioner gexamine gan ginsurer?: g-can gconduct
gan gexamination gof gany ginsurer gas goften gas gdeemed gappropriate, gbut
gat gleast gonce gevery g5 gyears.
15.How gis gexamination gof gforeign gor galien glicense gdone?: gthe
gCommissioner gmay gaccept gan gexamination greport gprepared gby gthe
ginsurance gdepartment gfor gthe gcompany's gdomestic gstate gso glong gas
gtheir ginsurance gdepartment gwas gaccredited gunder gthe gNational
gAssociation gof gInsurance gCommissioners.
16.What gd gthe gcommissioner gexamine gand gwho gpays gfor gthe gexpenses?: g-
-may gexamine gthe gaccounts, grecords, gdocuments gand gtransactions
gpertaining gto gany ginsurance gproducer, gsolicitor, gbroker, ggeneral
gproducer, gadjuster, gor ginsurer grepresentative.
-expenses gof gthe gexamination gmust gbe gpaid gby gthe gexaminee.
17.unfair gtrade gpractices: gtrading gpractices gwhich gderive ga ggain gat gthe
gexpense gof gthe gcompetition
18.What ghappened gif gan ginsurer gor gagent gcommits ga gviolation gof gunfair
gtrade gpractices?: g-may gissue ga gstatement gof gcharges gand ghold ga
ghearing gfor gany gpurpose gdeemed gnecessary g(within gthe gscope gof gthe
gInsurance gCode).
19.When gmust gthe gnotice gof ghearing gbe gdelivered?: gThe gnotice gof
ghearing gmust gbe gdelivered gat gleast g20 gdays gprior gto gthe gdate gof gthe
ghearing.
20.When gmust gthe gwritten gapplication gbe gfiled gand gwhen gis gthe ghearing
gheld?-
: g-The gapplication gmust gbe gfiled gin gthe gDepartment gwithin g90 gdays gafte
gact gwas gviolated.
- the ghearing gmust gbe gheld gwithin g30 gdays gafter gfiling gof gthe
gapplication.
21.When gcan gan gappeal gbe gmade gand gwithin gwhat gperiod?: g- gcan gonly
gbe gtaken gfrom gan gorder gon ghearing gor gif gthe gCommissioner ghas
grefused gor gfailed gto ghold ga ghearing gas grequired gby gthe gState
ginsurance gregulations.
Any gperson ginvolved gin gsuch ghearing gor gwhose ginterests gwere
gdirectly gaffected gby gthe grefusal, gmay gappeal gwithin g60 gdays gafter gthe
3 g/
g23
g (LIFE)
DELAWARE STATE (LIFE) WITH ALL ANSWERS VERIFIED
1.Cease gand gdesist g-: gto gstop gor gdiscontinue
2.Commission g-: gpayment gto gthe gagent gby gthe ginsurance gcompany
gfor gplacing ginsurance, gusually ga gpercentage gof gthe gpolicy
gpremium
3.Commissioner g-: gthe ghead gof gthe gState gDepartment gof gInsurance
4.Exempt g-: gnot gsubject gto gan gobligation
5.Solvency g-: gability gto gmeet gfinancial gobligations g(e.g. gan
ginsurance gcompany gmaintains genough gassets gto gpay gclaims)
6.Promulgate g-: gto gmake gpublic, gto gput ginto gaction g(e.g. glaws, gcourt
gdecrees, gand gsimilar)
7.Reciprocity g-: ga gmutual ginterchange gof grights gand gprivileges
8.Statute g-: ga gformal gwritten glaw genacted gby glegislature; ginsurance
gstatutes gcan gbe gfound gin gthe gstate gInsurance gCode
9.Subpoena g-: gan gorder gfor gsomeone gto gappear gas ga gwitness gor
gsubmit gtestimony gor gevidence
10.How gis ga gInsurance gCommissioner gchosen gand ghow glong gdo gthey
gserve?: g-
-chosen gby gqualified gelectors gof gthe gstate gat ggeneral gelections
-commissioned gby gthe gGovernor gfor ga gterm gof g4 gyears.
11.What gare gthe ginsurance gcommissioners gduty?: g-Grant gor gdeny
gapplications gfor gCertificates gof gAuthority
-Examine geach ginsurer, grating gorganization, gor gany gother gorganization go
gassociation gauthorized gto gtransact ginsurance gin gthis gstate
-Enforce gand gexecute gthe gduties gimposed gby gthe gInsurance gCode
1 g/
g23
, Delaware gState
g(LIFE)
-Adopt gand gpromulgate grules gand gregulations
-Have gthe gpowers gand gexpressed gauthority gto gcarry gout gall gduties
-Enforce gpayment gof gfee, gcharges gand gtaxes
-Have gadditional grights, gpowers gand gduties gprovided gby gother glaws gof
gDelaware.
12.What gcant gthe gcommissioner gdo?: gcannot gset gpremium grates gor
gestablishes gfines gand gpenalties g(those gare gdefined gby gstate glaw).
13.Who gdoes gthe gcommissioner gregulates gand gwhat gis gthe gpurpose?: g-
regu- glates ginsurance gcompanies gauthorized gto gdo gbusiness gin gthis
gstate.
-ensure gthat gthe gcompanies gremain gsolvent gand gconduct gbusiness gin
gcompliance gwith
2 g/
g23
, Delaware gState
(LIFE)
g
state glaws gand gregulations gpertaining gto glicensing, gpolicy gforms, grates,
gclaims, gand gmarket gconduct.
14.How goften gcan gthe gcommissioner gexamine gan ginsurer?: g-can gconduct
gan gexamination gof gany ginsurer gas goften gas gdeemed gappropriate, gbut
gat gleast gonce gevery g5 gyears.
15.How gis gexamination gof gforeign gor galien glicense gdone?: gthe
gCommissioner gmay gaccept gan gexamination greport gprepared gby gthe
ginsurance gdepartment gfor gthe gcompany's gdomestic gstate gso glong gas
gtheir ginsurance gdepartment gwas gaccredited gunder gthe gNational
gAssociation gof gInsurance gCommissioners.
16.What gd gthe gcommissioner gexamine gand gwho gpays gfor gthe gexpenses?: g-
-may gexamine gthe gaccounts, grecords, gdocuments gand gtransactions
gpertaining gto gany ginsurance gproducer, gsolicitor, gbroker, ggeneral
gproducer, gadjuster, gor ginsurer grepresentative.
-expenses gof gthe gexamination gmust gbe gpaid gby gthe gexaminee.
17.unfair gtrade gpractices: gtrading gpractices gwhich gderive ga ggain gat gthe
gexpense gof gthe gcompetition
18.What ghappened gif gan ginsurer gor gagent gcommits ga gviolation gof gunfair
gtrade gpractices?: g-may gissue ga gstatement gof gcharges gand ghold ga
ghearing gfor gany gpurpose gdeemed gnecessary g(within gthe gscope gof gthe
gInsurance gCode).
19.When gmust gthe gnotice gof ghearing gbe gdelivered?: gThe gnotice gof
ghearing gmust gbe gdelivered gat gleast g20 gdays gprior gto gthe gdate gof gthe
ghearing.
20.When gmust gthe gwritten gapplication gbe gfiled gand gwhen gis gthe ghearing
gheld?-
: g-The gapplication gmust gbe gfiled gin gthe gDepartment gwithin g90 gdays gafte
gact gwas gviolated.
- the ghearing gmust gbe gheld gwithin g30 gdays gafter gfiling gof gthe
gapplication.
21.When gcan gan gappeal gbe gmade gand gwithin gwhat gperiod?: g- gcan gonly
gbe gtaken gfrom gan gorder gon ghearing gor gif gthe gCommissioner ghas
grefused gor gfailed gto ghold ga ghearing gas grequired gby gthe gState
ginsurance gregulations.
Any gperson ginvolved gin gsuch ghearing gor gwhose ginterests gwere
gdirectly gaffected gby gthe grefusal, gmay gappeal gwithin g60 gdays gafter gthe
3 g/
g23
