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The Pennsylvania Insurance Department is a cabinet-level agency in Pennsylvania, United States. It was founded in 1873 and has several main functions, including: [2] To audit insurance companies' finances; Issue licenses to insurance industry individuals and companies; Regulate insurance policies and rates
[5] [6] An SR-22 may be required for three years for conviction of driving without insurance or driving with a suspended license and up to five years for a DUI. [7] If an SR-22 should expire or be canceled, the insurance company is required to issue an SR-26 form, which certifies the cancellation of the policy. [4] [7]
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
In Pennsylvania, PIP may also be called “first-party benefits” or “FBP.” Generally, car insurance companies will file these forms with the state’s Department of Motor Vehicles (DMV ...
The 2024 average cost of car insurance in Pennsylvania is $521 annually for minimum coverage and $2,790 per year for full coverage car insurance. Like any other coverage you select for an auto ...
These two departments were merged to form the Pennsylvania Department of Community and Economic Development. Pennsylvania Department of Environmental Resources Pennsylvania Department of Forests and Water
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Full tort and limited tort automobile insurance options were instituted by the state of Pennsylvania in an attempt to decrease the number of pain and suffering lawsuits in Pennsylvania courts. Concerned about the high rates of automobile insurance, Pennsylvania enacted mandatory personal injury protection (PIP) insurance coverage in the attempt ...