Insurance Regulation Flashcards
1
Q
examples of unfair and deceptive trade practices
A
rebating, circulating false financial statements, and misrepresentation of dividends
2
Q
primary regulatory authority for the insurance industry in the US
A
states
3
Q
head of a state insurance dept is responsible for…
A
licensing and supervising agents and brokers, overseeing issuers’ marketing practices, and issuing rules and regulations.
4
Q
head of a state insurance dept is NOT responsible for…
A
writing and enacting insurance laws. that falls to the state legislature.
