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In 1957, the Board of Insurance Commissioners was abolished and replaced by the State Board of Insurance, consisted of three members appointed by the governor but serving a six-year term. The board determined policy and rates and authorized rules, while the commissioner was responsible for administrative operations and was appointed by the board.
The IIABA has spent more than $1 million in 2010 in lobbying efforts on federal crop insurance, insurance licensing reform, and other insurance issues. [2]The IIABA supported the National Association of Registered Agents and Brokers Reform Act of 2013 (H.R. 1155; 113th Congress), a bill which would reduce the regulatory costs of complying with multiple states' requirements for insurance ...
Working with an insurance intermediary service allows the independent agent to review many quotes and offer their clients the best policy options available. For their efforts, independent agents are paid a commission (remuneration). [2] In addition to insurance policies, agents often sell mutual funds, annuities, and products that address ...
While an independent agent has a legal duty to act in the best interest of their client, there might be a conflict of interest for the agent if one insurance provider pays a higher commission than ...
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An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with their office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state.
We are an insurance safety net and partner in the insolvency system, fairly serving the people of Texas in an efficient and cost-effective way. TPCIGA, Mission statement According to the Texas State Auditor's Office, the "Association's purpose is to pay, fairly and in a timely manner, valid insurance claims involving insolvent property and ...
The NAIC is not a regulator; while its members are the insurance commissioners (i.e., the chief insurance regulators) of each U.S. state and six territories, [1] the NAIC is a non-governmental organization that concerns itself with insurance regulatory matters but does not actually regulate. The states have not delegated their regulatory ...