- Study guides, Class notes & Summaries

A license is deemed to be used for controlled business if, during any 12 month period, the total premiums on controlled business ____ the total premiums on all other business. - answer-Exceed A producer must remit premiums to insurer within ____ days after receipt. - answer-45 A producer must return all premium to the insured within ____ days. - answer-30 After the policy has been in force ____ year, the insurer may not deny death benefits (other than accidental death) due to suicide. -...

Insurance Commissioner Appointed by and serves at the will of the governor, hires employees to help carry out duties, deputy commissioner steps in when commissioner is out Commissioner's Duties -Maintaining records that insurers are required by law to file in Commissioner's office, annual report by March 1 -Requiring domestic insurers to keep adequate records and complies with the law -Certificate of authority- insurer's license to transact insurance business, expires on June 30 an...