Insurance State Review

Tennessee Property and Casualty Insurance State Review Hearings and Judicial Review - Correct Answers ✅Provisions of the Uniform Administrative Procedures Act will govern all matters and procedures respecting any hearing, and judicial review of any contested case.

• The Commissioner may authorize any regular salaried

employee of the Department to serve as an administrative judge or hearing officer in any contested case arising under this part.

• The Commissioner may serve a motive in any contested

case arising under this part by registered or certified mail to the licensee's current address on file.Investigations - Correct Answers ✅The commissioner has inquisitorial powers and is empowered to subpoena witnesses and examine them under oath provided that all testimony, documents and other evidence obtained by the commissioner pursuant to this part will be absolutely privileged and not be admissible as evidence in any private civil proceeding.-department will provide copy of the inquisitorial order or complaint and copies of statements given by the complainant witching *30 days* of issuance of the order or receipt of the complaint.-*14 days* written notice of the Commissioners intent to take testimony is required.-Commissioner must notify both parties within *30 days* of completing or closing investigation. 1 / 3

Tennessee Property and Casualty Insurance State Review -Investigations must be completed within a *2 year period* Powers of the Commissioner - Correct Answers ✅The Department of Commerce and Insurance and the Commissioner of Commerce and Insurance are responsible for administering Tennessee's insurance laws. The Commissioner of Commerce and Insurance, the chief officer of the Tennessee Department of Commerce and Insurance, is appointed by the *governor*.Regulatory Authority - Correct Answers ✅The Commissioner retains the authority to enforce the provisions of and impose any penalty or remedy against any person under investigation for or charged with a violation even if the person's license has been surrendered or has lapsed by operation of law.

• The commissioner may serve a notice or order in any

action arising under this part by registered or certified mail to the insurance producer or applicant at the address on file.

• Notwithstanding any provisions of law to the contrary,

service in the manner set forth herein is deemed to constitute actual service on such insurance producer or applicant.

• *The Commissioner* oversees licensing of resident and

nonresident producers acting in Tennessee. 2 / 3

Tennessee Property and Casualty Insurance State Review Penalties - Correct Answers ✅If the Commissioner finds that a license has violated any statue, rule, or order, the

Commissioner may order:

-the insurer, person, or entity to cease and desist from engaging in the act or practice giving rise to the violation.-payment of a monetary penalty of not more than $1,000 for each violation, but not to exceed an aggregate penalty of $100,000 for a violation committed unknowingly, or $25,000 for each violation, not to exceed an aggregate penalty of $250,000 for a violation committed knowingly.-the suspension or revocation of the insurer's, person's, or entity's license.-The Commissioner may consider any evidence relative -Commissioner may consider the insurer's, person's, or entity's efforts to cure the violation Insurance Producer - Correct Answers ✅A person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance Business Entity - Correct Answers ✅Is a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity.

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