Hawaii Insurance License Practice Exam

Question: 1 / 400

Within how many days must an insurer notify the Commissioner after terminating an appointment?

15 days

30 days

An insurer is required to notify the Commissioner within 30 days after terminating an appointment. This time frame ensures that the regulatory body is kept informed about changes in the status of appointments, which helps maintain oversight of the insurance market and ensures that all agents and their activities are properly monitored. Timely notification is vital for regulatory compliance and allows the Commissioner to update records and take necessary actions, if needed.

In the context of insurance regulations, this rule helps maintain transparency and accountability within the insurance industry, ensuring that consumers are protected and that all agents working in the state operate within the bounds of the law. The 30-day period is standardized to allow insurers enough time to process the termination and inform the Commissioner without undue delay.

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45 days

60 days

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