This office clause is a form dealing with compliance with legal requirements and insurance recommendations covering most all of the issues covered.
Arkansas Clause Addressing Compliance with Legal Requirements and Insurance Recommendations
Category:
State:
Multi-State
Control #:
US-OL13064
Format:
Word;
PDF
Instant download
Description
How to fill out Clause Addressing Compliance With Legal Requirements And Insurance Recommendations?
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FAQ
Before insurers may transact business in a specific state, they must apply for and be granted a license or Certificate of Authority from the state department of insurance and meet any financial (capital and surplus) requirements set by the state.
Insurance required--Minimum coverage. (B) An insurance policy issued by an insurance company authorized to do business in this state. (ii) The online insurance verification system fails to show current insurance coverage for the driver or the insured.
All insurers (domestic, foreign, or alien) must obtain a Certificate of Authority before transacting insurance within a given state.
An unauthorized insurer is an insurance company that is operating without the permission or oversight of its state insurance regulator. Operating an unauthorized insurer is illegal, and can result in legal or financial penalties.
An Admitted or Authorized insurer must have a Certificate of Authority granted from the California Department of Insurance.
In order to transact insurance within a given state, an insurer must obtain an insurer's license. This license is granted by the state insurance regulatory authority and authorizes the insurer to conduct insurance business within that particular state.
