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The state's legislature of 1907 separated the insurance department from the other departments and included the operations of banking regulation, and the commissioner's title changed to Commissioner of Insurance and Banking, served a 2-year term. In 1913 the State Insurance Commission was introduced.
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 ...
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 ...
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 ...
In 2004, the SEC report noted "The great majority of the firm's agents are former commissioned or non-commissioned military officers." [ 11 ] The report was part of the proceedings in reaching a settlement with First Financial over charges that the firm "willfully violated the Securities Act of 1933 Section 17(a)(2) dealing with inter-state ...
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.
NAIC also maintains additional standing committees to address specific charges as approved by NAIC leadership. [9] [10] In March 2024 the NAIC announced Gary Anderson as the Chief Executive Officer, effective May 1, 2024. [11] For 2025, North Dakota Insurance Commissioner Jon Godfread serves as NAIC President. [12]
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 ...