Insurance Commissioner Law and Legal Definition
Insurance commissioner is a high level state regulator of the insurance business who is either elected to office or appointed by a state to safeguard the interests of policy owners.
Following is a state law that deals with the powers of insurance commissioner.
According to Cal Ins Code § 733, an insurance commissioner:
1).May appraise or cause to be appraised by competent appraisers appointed by him/her all property in which the insurer has or claims an interest, or which is security for the payment of any debt or obligation to the insurer.
2) Must observe those guidelines and procedures set forth in the Examiner's Handbook adopted by the National Association of Insurance Commissioners while conducting examinations.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]