GA PROPERTY & CASUALTY
INSURANCE TEST- GA RULES &
REGULATIONS(GA PROPERTY &
CASUALTY INSURANCE TEST- GA
RULES & REGULATIONS)2023-2024
GA
... [Show More] Insurance Commissioner - ANSWERS,Ralph Hudgens
- Serves as Chief Officer of Department of Insurance
- Fire Marshall Chief
-Elected every 4 years
- Can run as as many time as you want
- Reports to state legislature
- Must not have a financial interest with an insurer
- The Commissioner must appoint a chief deputy commissioner and when appointed they are
required to have a $15k bond
- Chief Deputy Commisioner assumes Commissioner's duties in the Commissioner's disablity or
absence
- Must examine Financial Records of Insurance Companies (at least every 5yrs)
Investigation - ANSWERS,-gather information related to activities of insurance companiew, agents
and other in the conduct of insurance transactions
-empowered to subpoena witness and ask questions of those commanded to such hearings
Hearing and Judicial Review - ANSWERS,- person must make written request to have public hearing
-Commissioner feels there are grounds for hearing, hearing will be held in 30 days
- serve notice of hearing by registered mail
- Commissioner may preside or assign designated reps. as a hearing officer
Penalties - ANSWERS,- Superior Court of Fulton County are the only ones that can over-turn decision
of Ins. Commissioner.
- Commissioner can impose penalty provided by law against any person who has been investigated
and found responsible for violation without a hearing
- Wrongdoer can request hearing within 10 days of receipt of order
Violation of Code the Commissioner may order;
-Cease and desist
- Probation is 1 yr for each violation
- Payment of fine of not more than $1000 for each violation
- Payment of fine of not more than $5000 for each violation for intentional violations
ADMINISTRATIVE SUPERVISION OR SUSPENSION OF CERTIFICATE OF AUTHORITY - ANSWERS,1.
Commissioner may without advance notice or hearing place and insurance company under admin.
supervision or suspend immediately the certificate of authority for FINANCIAL DISTRESS.
2. revocation, suspension or restriction of the insurance company's authority in another state
Producer (Agent) in GA - ANSWERS,- at least 18 yrs old
- reside and be present in State of GA for at least 6 mnths every year
- no denial, suspension, or revocation of license
- no conviction of felony (especially theft of money)
-completed prelicensing course of study for the lines of insurance for which you are applying
-courses must be approved by Commissioners office
- Life, Accident and Sickness - 40 hrs of course work
-Property and Casualty Lines - 40 hrs of course work
- P& C Personal Lines - 30 hrs of course work
- pass exam
- paid all required fees
Don't need a Producers License - ANSWERS,-person does not receive any commissions on policy
written or sold
-indirectly related to the sale, solicitation or negotiation of insurance
-job functions relate to under-writing, loss control, inspection, adjusting a claim on a contract of
insurance [Show Less]