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In order to accomplish these goals, each state grants several powers to insurance commissioners and their offices, including: [4] Approval of insurance rates; Periodical financial examinations of insurers; Licensing of companies, agencies, agents, and brokers; Monitoring and regulating claims handling
The Georgia Electronic Insurance Compliance System or GEICS is a database of all motor vehicles and the current liability insurance carried by their drivers in the U.S. state of Georgia. It was created by the Georgia General Assembly (the state legislature ) during the 2002 session, to cut down the rate of uninsured motorists .
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 ...
In insurance, a managing general agent is defined legally as "an individual or business entity appointed by an underwriting insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts".
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 ...
Former Georgia Insurance Commissioner John Oxendine was sentenced to three and a half years in prison Friday for conspiracy to commit health-care fraud in connection with unnecessary lab testing.
A former Georgia insurance commissioner who made a failed Republican run for governor has pleaded guilty to conspiring to commit health care fraud. John W. Oxendine of Johns Creek entered the ...
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