Washington State Property & Casualty Insurance

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Commissioner's Term of Office correct answers Elected by the voters 4 years Commissioner Powers correct answers Investigate insurance transactions, Adopt rules to regular unfair or deceptive acts a... nd implement the legislature's insurance code Issue a cease and desist order to force compliance with insurance laws Prosecute a legal action to enforce the commissioner's orders Obtain and publish for the use of courts and appraisers, tables showing the average life expectanccy Disseminate information concerning the insurance laws Provide assistance to member of the public in getting information about insurance and resolving complaints Commissioner Examinations correct answers May examine Insurers and Producers records at any time, but must examine insurer's records every 5 years Commissioner Rate and Form Approval correct answers New policy forms and applications can't be used before they've been approved by the commissioner Property and Casualty Rates - Commissioner correct answers Must be filed with and approved by commissioner. Commissioner cannot set rates. Can reject for being excessive, inadequate, or unfairly discriminatory. Producer license suspension correct answers No more than 12 months Producer rights if Commissioner initiates disciplinary action correct answers Request hearing with commissioner or with an administrative judge and be represented by an attorney Selling insurance without a producer license correct answers Class B felony Court: jail term 10 years and/or criminal fine of $20,000 Commissioner: may issue cease and desist order, and call for a civil fine of $25,000 Policy Cancellation by Commissioner correct answers No advance notice if policy violates insurance laws Commissioner Fines correct answers Cease and desist - $250 Violating an insurance law - $1000 Selling insurance without license - $25,000 [Show More]

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