Home > Insurance Division > Solvency Regulation > Property and Casualty FAQs Property Casualty Insurer - Frequently Asked Questions
› What are New Jersey's seasoning requirements, and under what circumstances can these be waived? › If a company believes it meets the requirements for admission, what must it do next? › Whom should I contact for Rate/Form filing and other licensing information? Extensions of Authority - Foreign Insurer › What does a company need to submit for an Extension of Authority if it has the authority to write that line in their state of domicile? › What if health insurance is requested? › Is there a fee for an Extension of Authority? Accredited Reinsurer › What regulation provides the procedure for becoming accredited? › What must a company submit to become accredited? › What is the process for companies with over $20,000,000 in surplus? Formation of a Domestic Property Casualty Insurance Corporation (Stock or Mutual) › What regulation covers formation of a domestic property casualty insurer? › What is included in the feasibility study submitted to the Commissioner?
› How long does a company have to receive a Certificate of Authority? Acquisition › What is the statute that controls acquisitions? › What documents does the company have to submit? Name Change › Is an insurer required to reserve a company name? › What documents does the company have to submit to record a name change? Merger › What information must a company submit that is involved in a merger? Re-domestication - Foreign Insurer transferring its state of domicile to a state other than New Jersey › What information must a company submit concerning a re-domestication?
Which of the following would provide an underwriter with information concerning an applicant's history?The medical information bureau (MIB) is a nonprofit trade organization that maintains underwriting information on applicants for life and health insurance. What would provide an underwriter with information concerning an applicants health history? The Medical Information Bureau (MIB).
What is the primary source of information used for insurance underwriting?Your application: The basic source of underwriting information is your completed application for term insurance. The questions on the application are designed to give the insurer much of the information needed to make a decision.
What is the biggest source of information used in underwriting?Underwriting is the process that insurance companies use to select, classify and rate risks. What is the biggest source of information used in underwriting? The application is the biggest source of information used in underwriting.
What is an underwriters assessment of information on a life insurance application?Underwriting is the process of assessing the amount of risk you present to a potential insurer. Professional underwriters review the criteria on your application to see if it's possible to offer you a policy and, if so, how much coverage you're eligible for. Then, they set your monthly premium based on the information.
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