Learn about the Insurance Commissioner, the individual who heads the state's agency for insurance regulation, also known as the Director or Superintendent in some states.
Explore the concept of open rating in general insurance, where insurers use state-allowed rates that were not previously approved. Learn how this system impacts policy pricing.
Learn about the Convention Blank, a mandatory annual financial statement for insurance companies required in all states. Understand its purpose, regulatory requirements, and filing process.
Understand the meaning of impaired insurer, the signs of financial trouble in insurance companies, and the impact on policyholders and the insurance industry.
Learn about the definition and significance of an Interstate Carrier in General Insurance Terms. Understand the role of companies providing transportation across state lines.
Learn about the role and responsibilities of the Commissioner of Insurance, the primary state-level regulator dedicated to protecting policy owners' interests.
Learn about the Appleton Rule, a crucial regulation requiring every insurer in New York to comply with the New York Insurance Code, even if they operate in other states.
Learn about Federal Qualification by the Health Care Financing Administration and its importance for HMOs in ensuring quality health services.
Learn about nonadmitted assets in general insurance, which are assets not qualified to be listed on insurance statements due to not meeting state requirements. Discover examples like furniture and fixtures.
Learn about Permit Bonds (Surety), which promise adherence to laws governing specific activities for which a permit is issued. Understand their importance in regulatory compliance.
Learn about Statutory Accounting Principles (SAP), the legally mandated principles insurers must follow when preparing financial statements for state insurance departments.
Understand File and Use Rating Laws, state regulations that allow insurers to implement new rates without obtaining prior approval from the insurance department. Discover its implications in the insurance industry.
Explore the concept of statutory reserve in general insurance, a legally required reserve to ensure the financial stability and integrity of insurance providers.
Learn about the Securities Act of 1933, a fundamental law in the financial sector requiring a detailed prospectus and full disclosure to regulate the sale of securities.
Learn about the Certificate of Authority in health insurance, a state-issued certificate crucial for the licensing and operation of health maintenance organizations.
Learn about the role and essential responsibilities of a registered representative in the securities industry, along with the legal requirements to become one.
