reglab/statecodes huggingface dataset:
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 25 - RULES AND PROCEDURAL REQUIREMENTS FOR INSURANCE HOLDING COMPANY SYSTEMS › Section 25.18 - Summary of registration-statement filing

Current through Register Vol. 54, No. 28, July 13, 2024
An annual registration statement filed under section 1404
					 of the act (40 P. S. §
											991.1404)
					 shall include the information required on Form C located in Appendix A as
					 prescribed by this chapter.
The provisions of this §
												25.18 issued under Article XIV of
						The Insurance Company Law of 1921 (40 P. S. §§
													991.1401-991.1413); amended under section
						337.8 and Article XIV of The
						Insurance Company Law of 1921 (40 P. S. §§
													459.8 and
						991.1401-991.1413); and
						sections 206, 506, 1501 and 1502 of The Administrative Code of 1929
						(71
						P. S. §§
													66,
						186,
						411 and
						412).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 25 - RULES AND PROCEDURAL REQUIREMENTS FOR INSURANCE HOLDING COMPANY SYSTEMS › Section 25.19 - Alternative and consolidated registrations

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Under section 1404(i) of the act
				  (40
				  P. S. §
											991.1404(i)) an
				  insurer authorized to do business in this Commonwealth may file a registration
				  statement on behalf of an affiliated insurer which is required to register
				  under section 1404 of the act. A registration statement may include information
				  regarding an insurer in the insurance holding company system even if the
				  insurer is not authorized to do business in this Commonwealth. In lieu of
				  filing a registration statement on Form B located in Appendix A, an insurer
				  authorized to do business in this Commonwealth may file a copy of the
				  registration statement or similar report which it is required to file in its
				  state of domicile, if:
(1) The statement or
				  report contains substantially similar information required to be furnished on
				  Form B.
(2) The filing insurer is
				  the principal insurance company in the insurance holding company
				  system.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 25 - RULES AND PROCEDURAL REQUIREMENTS FOR INSURANCE HOLDING COMPANY SYSTEMS › Section 25.20 - Disclaimers and termination of registration

Current through Register Vol. 54, No. 28, July 13, 2024
(a) A disclaimer of affiliation under section
				  1404(k) of the act (40 P. S. §
											991.1404(k)) or a request
				  for termination of registration under section 1404(g) of the act claiming that
				  a person does not, or will not upon the taking of some proposed action, control
				  another person, referred to as the "subject," within this subsection, must
				  contain the following information:
(1) The
				  number of authorized, issued and outstanding voting securities of the
				  subject.
(2) With respect to the
				  person whose control is denied and the affiliates of that person, the number
				  and percentage of shares of the subject's votes that shareholders would be
				  entitled to cast in the election of directors which are held of record or known
				  to be beneficially owned, and the number of the shares concerning which there
				  is a right to acquire, directly or indirectly.
(3) The material relationships and bases for
				  affiliation between the subject and the person whose control is denied and the
				  affiliates of that person.
(4) A
				  statement explaining why the person should not be considered to control the
				  subject along with supporting information.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 25 - RULES AND PROCEDURAL REQUIREMENTS FOR INSURANCE HOLDING COMPANY SYSTEMS › Section 25.21a - Enterprise risk report

Current through Register Vol. 54, No. 28, July 13, 2024
The ultimate controlling person of an insurer required to
					 file an enterprise risk report under section 1404(k.1) of the act
					 (40
					 P. S. §
											991.1404(k.1)) shall furnish the
					 required information on Form F as set forth in Appendix A. If the Commissioner
					 approves a merger or acquisition of control, a revised enterprise risk report
					 shall be filed within 30 days after the end of the month in which the
					 acquisition of control occurs unless otherwise ordered by the
					 Commissioner.
The provisions of this §
												25.21a issued under sections 206,
						506, 1501 and 1502 of The Administrative Code of 1929 (71 P. S.
						§§
													66,
						186,
						411 and
						412); and Article XIV of The
						Insurance Company Law of 1921 (40 P. S. §§
													991.1401-991.1413).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 25 - RULES AND PROCEDURAL REQUIREMENTS FOR INSURANCE HOLDING COMPANY SYSTEMS › Section 25.23 - Adequacy of surplus

Current through Register Vol. 54, No. 28, July 13, 2024
The factors in section 1405(d) of the act (40 P. S. §
											991.1405(d)) to be
					 considered in determining whether an insurer's surplus is reasonable in
					 relation to the insurer's outstanding liabilities and adequate to its financial
					 needs are not intended to be an exhaustive list. In determining the adequacy
					 and reasonableness of an insurer's surplus, no single factor is necessarily
					 controlling. The Commissioner will consider the net effect of these factors
					 plus other factors bearing on the financial condition of the insurer. In
					 comparing the surplus maintained by other insurers, the Commissioner will
					 consider the extent to which each of these factors varies from company to
					 company. In determining the quality and liquidity of investments in
					 subsidiaries, the Commissioner will consider the individual subsidiary and may
					 discount or disallow its valuation to the extent that the individual
					 investments so warrant.
The provisions of this §
												25.23 issued under Article XIV of
						The Insurance Company Law of 1921 (40 P. S. §§
													991.1401-991.1413); amended under section
						337.8 of The Insurance Company Law
						of 1921 (40 P. S. §
													459.8).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 25 - RULES AND PROCEDURAL REQUIREMENTS FOR INSURANCE HOLDING COMPANY SYSTEMS › Appendix A › Form E - PRE-ACQUISITION NOTIFICATION STATEMENT OF THE POTENTIAL COMPETITIVE IMPACT OF A PROPOSED MERGER OR ACQUISITION

Current through Register Vol. 54, No. 28, July 13, 2024
(
Name of Insurer
)
BY: (
Name of Acquiring
						Persons
)
Filed with the Insurance Department of the Commonwealth
						of Pennsylvania
Date:
Name, title, address and telephone number of person
						completing this statement:
Item 1. Name and Address
State the names and addresses of acquiring
						persons.
Item 2. Name and Addresses of Affiliated
						Persons
State the names and addresses of the persons affiliated
						with those listed in Item 1. Describe their affiliations.
Item 3. Nature and Purpose of Proposed Merger or
						Acquisition
State the nature and purpose of the proposed merger or
						acquisition.
Item 4. Nature of Business
State the nature of the business performed by each of the
						persons identified in response to Item 1 and Item.
Item 5. Market and Market Share
State specifically what market and market share the
						persons identified in Item 1 and Item 2 currently enjoy in this Commonwealth in
						each insurance market which, under section 1403(b)(2)(v) of the act
						(40
						P. S. §
												1403(b)(2)(v)),
						causes the proposed merger or acquisition not to be exempted from Article XIV
						of the act. Provide historical market and market share data for each person
						identified in Item 1 and Item 2 for the past 5 years, or for the number of
						years the person and any predecessors thereof have been transacting business if
						less than 5 years, and identify the source of the data. Provide a determination
						as to whether the proposed acquisition or merger, if consummated would violate
						the competitive standards as stated in Section 1403 of the Act (40 P. S. §
												991.1403(d)(1)). If the
						proposed acquisition or merger would violate competitive standards, provide
						justification of why the acquisition or merger would not substantially lessen
						competition or create a monopoly in the Commonwealth.
For purposes of this item, market means direct written
						insurance premium in this Commonwealth for a line of business as contained in
						the annual statement required to be filed by insurers licensed to do business
						in this Commonwealth.
Item 6. Signature and
						Certification
Signature and certification required as follows:
SIGNATURE
Pursuant to the requirements of Section 1402 of the act
						_____________ has caused this application to be duly signed on its behalf in
						the City of _____________ and State of _____________on the _____________ day of
						_____________ , _____________.
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Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 27 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 27.1 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this chapter,
					 have the following meanings, unless the context clearly indicates
					 otherwise:
Acquisition of assets
-The purchase, lease,
					 exchange, succession or other acquisition of assets, other than the
					 following:
(i) The purchase,
				  construction or development of real property occupied or to be occupied by the
				  insurer for the transaction of its business or the acquisition of materials for
				  that purpose.
(ii) Electronic data
				  processing hardware and operating software acquired by the insurer to support
				  the transaction of its business.
Act
-The Insurance Company Law of 1921
					 (40
					 P. S. §§
											341-991.1718).
Association
-Individuals, partnerships or
					 associations of individuals, authorized to engage in the business of insurance
					 in this Commonwealth as insurers on the Lloyds plan.
Commissioner
-The Insurance Commissioner of
					 the Commonwealth.
Department
-The Insurance Department of the
					 Commonwealth.
Disposition of assets
-The sale, lease,
					 transfer, exchange, mortgage, hypothecation, assignment (whether for the
					 benefit of creditors or otherwise), abandonment, destruction, alienation or
					 other conveyance of an interest in assets.
Domestic
-Incorporated or organized under
					 the laws of the Commonwealth.
Exchange
-Individuals, partnerships and
					 corporations, authorized by the laws of the Commonwealth to exchange with each
					 other inter-insurance or reciprocal insurance contracts.
Insurer
-A stock or mutual insurance
					 company (including title insurance companies), association or exchange.
Licensed
-Currently authorized by the
					 Commissioner to transact the business of insurance in this Commonwealth under
					 the act, as evidenced by a certification issued by the
					 Commissioner.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 27 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 27.2 - Scope

Current through Register Vol. 54, No. 28, July 13, 2024
(a) This chapter
				  provides for the interim filing of statements of transactions that may have a
				  material effect on the financial condition of a domestic insurer.
(b) This chapter applies to licensed domestic
				  insurers subject to section 320 of the act (40 P. S. §
											443) relating to the filing of statements of
				  financial condition.
(c) This
				  chapter does not supersede or in any way affect an insurer's duty to comply
				  with the act of July 31, 1968 (P. L. 941, No. 288) (40 P. S. §§
											995.1-995.4), relating to prior notice to the
				  Commissioner of disposal of assets and certain reinsurance cessions.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 27 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 27.3 - Disclosure of material acquisitions or dispositions of assets

Current through Register Vol. 54, No. 28, July 13, 2024
(a) An insurer
				  shall file a statement disclosing an acquisition of assets or disposition of
				  assets if the following apply:
(1) A single
				  transaction, or a series of related transactions during a 30-day period,
				  involves more than 5% of the insurer's total admitted assets as reported in the
				  insurer's most recent annual statutory financial statement filed with the
				  Department.
(2) The transaction is
				  nonrecurring.
(3) The transaction
				  is not in the ordinary course of business.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 27 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 27.4 - Disclosure of material nonrenewals, cancellations or revisions of ceded reinsurance agreements

Current through Register Vol. 54, No. 28, July 13, 2024
(a) A
				  property and casualty insurer shall file:
(1)
				  A statement disclosing a nonrenewal, cancellation or revision of a ceded
				  reinsurance agreement with respect to property and casualty business-including
				  accident and health business written by a property and casualty insurer-if it
				  relates to reinsurance cessions which generate any of the following.
(i) Fifty percent or more of the insurer's
				  ceded written premiums as reported in the most recent annual statutory
				  financial statement filed by the insurer.
(ii) Fifty percent or more of the insurer's
				  total ceded indemnity loss and loss adjustment expense reserves.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 27 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 27.5 - Confidentiality of statements disclosing material transactions

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Statements filed under this chapter shall
				  be given confidential treatment, unless any of the following occur:
(1) The insurer gives its prior written
				  consent that the information may be published.
(2) The Commissioner exercises discretion and
				  determines that all or any part of the information related to the transaction
				  be published. Prior to making a determination to publish all or any part of the
				  information, the Commissioner will notify the affected insurer of the right to
				  request a confidential review by the Commissioner. At the review, the affected
				  insurer shall have an opportunity to demonstrate why the transaction and
				  related information should remain confidential. After the review, the
				  Commissioner may order some, all or none of the information related to the
				  transaction be made public. Any of the Commissioner's responsibilities may be
				  delegated to a designee.
(3) The
				  statements are subpoenaed. The Department will notify the insurer prior to
				  providing the information subject to subpoena, unless otherwise prohibited by
				  statute or rule of court.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › DEFINITIONS AND PURPOSE › Section 37.1 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this chapter,
						have the following meanings, unless the context clearly indicates
						otherwise:
Act
-The Insurance Department Act of 1921
						(40
						P. S. §§
												1-297.4).
Active officer
-An officer of a
						corporation who holds either a current certificate as an agent or a license as
						a broker. If the corporation's insurance authority is limited to only
						restricted lines, as listed in §
											37.39 (relating to lines of
						authority), an employe who holds a certificate as an agent is considered to be
						an active officer for purposes of licensing the corporation.
Active partner
-A partner of a
						partnership who holds a current certificate as an agent or a license as a
						broker. If the partnership's authority is limited to only restricted lines, as
						listed in § 37.39, an employe who holds a certificate as an agent is
						considered to be an active partner for purposes of licensing the
						partnership.
Agent
-
(i)
Inclusions.
Means one or
					 more of the following:
(A) A person authorized
					 in writing by an entity to do one of the following:
(I) Solicit risks and collect premiums and to
					 issue or countersign policies in its behalf.
(II) Solicit risks and collect premiums in
					 its behalf.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › DEFINITIONS AND PURPOSE › Section 37.2 - Purpose

Current through Register Vol. 54, No. 28, July 13, 2024
The purpose of this chapter is to implement sections
						601-639 of the act (40 P. S. §§
												231-279), by setting forth requirements and
						standards for the operation of a single licensing system for insurance agents
						and brokers in this Commonwealth.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › CONVERSION › Section 37.5 - Conversion applications

Current through Register Vol. 54, No. 28, July 13, 2024
Agents licensed prior to the transition date who desire
						to convert their existing licenses to a certificate shall submit a completed
						conversion application on a form provided by the Department. Payment of a $6.50
						conversion fee, under section 604(d)(1) of the act (40 P. S. §
												234(d)(1)), shall accompany
						submission of the conversion application. Agents who fail to submit a completed
						conversion application within 3 months from the date of their receipt of the
						application, including payment of the conversion fee, will have their licenses
						terminated by the Department. An agent subject to termination will be
						prohibited from reapplying for a certificate until after the transition
						date.
This section cited in 31 Pa. Code §
													37.6 (relating to single license
						  applications).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › CONVERSION › Section 37.6 - Single license applications

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Agents who have complied with §
											37.5 (relating to conversion
					 applications) and have existing licenses shall receive, complete and submit a
					 single license application on a form approved by the Department to convert
					 their existing licenses to a certificate. Mailing the single license
					 application to the last known address shall satisfy the Department's obligation
					 to provide a single license application.
(b) A single license application that does
					 not include the proper fee or is not returned to the Department within 30 days
					 of the date of mailing by the Department may be rejected. Agents whose single
					 license applications are rejected will have their existing licenses terminated
					 and may reapply for a certificate after the transition date.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.11 - General activities requiring a certificate or license

Current through Register Vol. 54, No. 28, July 13, 2024
(a) A person doing business as an agent in
					 this Commonwealth shall obtain a certificate according to this
					 chapter.
(b) A person doing
					 business as a broker in this Commonwealth shall obtain a license according to
					 this chapter.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.12 - Employe and officer activities requiring a certificate or license

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Officers or
					 salaried employes of insurance entities shall obtain certificates and
					 appropriate appointments if they solicit, negotiate or place risks, or perform
					 other activities of an agent included in the definition of "agent" in §
											37.1 (relating to
					 definitions).
(b) Individuals
					 employed and used by agents or brokers to solicit, negotiate and place risks,
					 or perform other activities of an agent included in the definition of "agent"
					 in §
											37.1, shall obtain certificates
					 and appropriate appointments.
(c)
					 Individuals employed and used by agents or brokers to perform an act of a
					 broker, as set forth in the definition of "broker" in § 37.1, shall obtain
					 licenses.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.13 - Title agents

Current through Register Vol. 54, No. 28, July 13, 2024
Title agents are defined under section 724 of The
						Insurance Company Law of 1921 (40 P. S. §
												910-24) and are subject to the certification
						requirements of section 603 of the act (40 P. S. §
												233) under section 726 of The Insurance
						Company Law of 1921 (40 P. S. §
												910-26).
This section cited in 31 Pa. Code §
													37.1 (relating to
						  definitions).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.14 - Reciprocity

Current through Register Vol. 54, No. 28, July 13, 2024
The retaliatory law contained in section 212 of the act
						(40
						P. S. §
												50) applies to burdens or
						prohibitions enforced against residents of this Commonwealth, which are in
						excess of those burdens and prohibitions imposed by the Commonwealth
						itself.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.15 - Part-time agents and brokers

Current through Register Vol. 54, No. 28, July 13, 2024
Part-time agents and brokers, upon application for a
						certificate or license, shall inform the Department of the arrangements made
						for handling accounts to ensure adequate service to
						consumers.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.16 - Service in armed forces or employment with Department

Current through Register Vol. 54, No. 28, July 13, 2024
(a) A broker who has a license at the time
					 the broker enters the United States Armed Forces or becomes an employe of the
					 Department shall be eligible to apply for a renewal of the license within 1
					 year from the date of discharge or date of employment termination.
(b) An agent who has a certificate at the
					 time the agent enters the United States Armed Forces or becomes an employe of
					 the Department shall be eligible to apply for renewal of the certificate within
					 1 year from date of discharge or date of employment termination.
(c) Individuals desiring to conserve the
					 business of agents and brokers entering the United States Armed Forces shall be
					 subject to the conditions in §
											37.19 (relating to special
					 approval by the Commissioner).
(d)
					 If an agent or a broker who is serving in the United States Armed Forces
					 authorizes another agent or broker to do business in the name of the agent or
					 broker, the certificate or license of the absentee shall be kept in force. If
					 business is not transacted in the agent's or broker's name, the absent agent or
					 broker shall have the option of keeping the certificate or license in
					 force.
(e) If it becomes necessary
					 for an application or a renewal form to be filed on behalf of an insurance
					 agent or broker in the United States Armed Forces who cannot be reached for the
					 purpose of executing the application or renewal form, the Department will
					 consider the application or renewal form on the proper form executed in the
					 name of the absentee agent or broker by the agent or broker's attorney-in-fact,
					 if the reason the application or renewal form is so executed is set forth in a
					 statement attached to the application or renewal form together with a certified
					 copy of the power of attorney.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.17 - Collection of premiums requires certificate or license

Current through Register Vol. 54, No. 28, July 13, 2024
A person who is responsible for the collection and
						forwarding of premiums for insurance policies shall be deemed to be performing
						as an agent and shall be required to obtain a certificate and appointment from
						the insurance entity on whose behalf collection is being performed, or hold a
						license as a broker. This section does not apply to employes of agents or
						agencies who exclusively provide clerical support as described in the
						definition of agent in §
											37.1 (relating to
						definitions).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.18 - Individuals who only receive commissions

Current through Register Vol. 54, No. 28, July 13, 2024
Individuals not currently under suspension or revocation
						who previously were licensed or appointed by an entity and who no longer
						perform the activities of an agent for that entity shall be entitled to receive
						commissions on renewal of business placed with the entity without maintaining
						an appointment. Commissions may be received by the individual's estate in
						accordance with the individual's contract with the entity.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › GENERAL PROVISIONS › Section 37.19 - Special approval by the Commissioner

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 The Commissioner may approve individuals to perform certain duties of an agent
					 or broker upon proper written notification to the Department. The written
					 notification shall include an endorsement by each entity affected. The
					 Commissioner may approve only the following individuals:
(1) The executor or administrator of the
					 estate of a deceased person who, at the time of death, was an agent or
					 broker.
(2) The surviving next of
					 kin of a deceased agent or broker, if no administrator of the estate has been
					 appointed and no executor has qualified under the probated will.
(3) The surviving member of a firm or
					 association, at the time of the death of its certified or licensed member. If
					 the firm or association has surviving active officers or active partners who
					 hold the same lines of authority as the deceased, approval will not be
					 granted.
(4) The legal guardian of
					 a person declared incompetent by a court of competent jurisdiction, if the
					 incompetent person, at the time the person was declared incompetent, was an
					 agent or broker.
(5) The person
					 holding the power of attorney to act for an agent or broker who is absent due
					 to serving in the Armed Forces of the United States.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › EXAMINATIONS › Section 37.21 - Examination requirement

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Applicants for certificates or licenses shall be required to successfully
					 complete an examination concerning the powers for which the certificate or
					 license is sought, except as provided for in §§
											37.22-37.24 (relating to waiver of
					 examination for resident agents; waiver of examination for resident brokers;
					 and examination requirements for nonresident applicants).
(b) Examinations will be given separately for
					 certificates and licenses and will be given in the following categories: life,
					 accident and health, property, casualty, credit life accident and health.
					 Examinations will be given for title agent, surplus lines agent, public
					 adjuster, public adjuster solicitor and other categories designated by the
					 Commissioner.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › EXAMINATIONS › Section 37.22 - Waiver of examination for resident agents

Current through Register Vol. 54, No. 28, July 13, 2024
A resident agent who applies for a certificate may be
						exempt from taking the written examination in one or more of the following
						circumstances:
(1) Applicants for a
					 certificate who, within 2 years from the date of termination of their last
					 certificate, apply for a certificate for the same line of authority for which
					 they were previously licensed or certified.
(2) Applicants for a certificate with life
					 authority who have received the degree of CLU.
(3) Applicants for a certificate with
					 property or casualty authority who have received the degree of CPCU.
(4) Applicants for a certificate with an
					 accident and health authority who have received either the degree of CLU or
					 CPCU.
(5) Applicants for a
					 certificate with either a life, accident and health, or property and casualty
					 authority who have received the designation of CIC from the Society of
					 Certified Insurance Counselors.
(6)
					 Applicants for a certificate granting restricted authority to resident company
					 employes for countersignature only as provided for in §
											37.39(a)(1)(ii)(C)
					  (relating to lines of authority) and other
					 home office or branch office underwriters of entities who, in representing
					 their principal, may perform one or more of the acts of an agent, as described
					 in section 601 of the act (40 P. S. §
												231). These applicants for certificates shall
					 be appointed by their entities only upon a minimum of 5 years experience with
					 the appointing entity. The authority in the appointment and certificate shall
					 be subject to a specific prohibition against the solicitation of insurance by
					 the agents for their personal account. The agents shall qualify by examination
					 when they seek an appointment and certificate permitting personal
					 solicitation.
(7) Applicants for
					 certificates whose appointments will be limited to domestic mutual fire
					 insurance entities writing only coverage other than insurance upon automobiles
					 as authorized by section 202(b)(1)-(3) of the Insurance Company Law of 1921
					 (40
					 P. S. §
												382(b)(1)-(3)).
(8) Applicants for a certificate with the
					 restricted fraternal authority.
This section cited in 31 Pa. Code §
													37.21 (relating to examination
						  requirement); and 31 Pa. Code §
													37.31 (relating to general
						  application requirements).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › EXAMINATIONS › Section 37.23 - Waiver of examination for resident brokers

Current through Register Vol. 54, No. 28, July 13, 2024
A resident broker who applies for a license may be exempt
						from taking the written examination in one or more of the following
						circumstances:
(1) Applicants for a
					 license with the property and casualty authority who have acquired the
					 designation of CPCU, CIC or other professional designation approved by the
					 Commissioner.
(2) Applicants for a
					 license with the life, accident and health authority who have acquired the
					 designation of CLU, CIC or other professional designation approved by the
					 Commissioner and whose applications are accompanied by evidence of their
					 designation.
This section cited in 31 Pa. Code §
													37.21 (relating to examination
						  requirement); and 31 Pa. Code §
													37.31 (relating to general
						  application requirements).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › EXAMINATIONS › Section 37.24 - Examination requirements for nonresident applicants

Current through Register Vol. 54, No. 28, July 13, 2024
(a) A nonresident applicant for either a
					 certificate or license shall submit with the application a letter or a document
					 from the insurance department of the jurisdiction where the applicant holds a
					 license, confirming current certification or licensure for the same line of
					 insurance for which application is being made in this Commonwealth,
					 qualification by written examination or by a professional designation approved
					 by the Commissioner, or that certification or licensure was prior to the
					 requirement of a written examination. The certificates or licenses shall be
					 subject to reciprocal agreements between the Department and the insurance
					 department of the confirming jurisdiction.
(b) A nonresident applicant for either a
					 certificate or license will be required to pass the examination for the same
					 line of insurance for which application is being made in this Commonwealth if
					 unable to provide the letter or document from the insurance department
					 described in subsection (a).
This section cited in 31 Pa. Code §
													37.21 (relating to examination
						  requirement); and 31 Pa. Code §
													37.31 (relating to general
						  application requirements).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › EXAMINATIONS › Section 37.25 - Qualifications for examination

Current through Register Vol. 54, No. 28, July 13, 2024
(a) A
					 person who has attained the age of 18 years, who can read and write in the
					 English language and who maintains a business or legal address in this
					 Commonwealth, may sit for an agent examination upon payment of the applicable
					 fee and submission of an application form.
(b) No specific amount of education or
					 experience will be required to qualify to take an agent examination.
(c) A person who maintains a business or
					 legal address in this Commonwealth and who is certified and appointed as an
					 agent with both property and casualty lines of authority shall qualify to take
					 the broker's examination for the property and casualty line of
					 authority.
(d) A person who
					 maintains a business or legal address in this Commonwealth and who is certified
					 and appointed as an agent with both life and accident and health lines of
					 authority shall qualify to take the broker's examination for the life, accident
					 and health line of authority.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › EXAMINATIONS › Section 37.26 - Administration of examination

Current through Register Vol. 54, No. 28, July 13, 2024
(a) The
					 Commissioner may delegate to a competent person or corporation, by contract,
					 the authority for giving and scoring the examinations. The Commissioner may not
					 delegate this authority to an entity which does not guarantee that the
					 following standards will be met:
(1)
					 Examinations shall be offered at regular intervals at least 12 times each
					 year.
(2) Testing shall be
					 conducted throughout this Commonwealth.
(3) Test security shall be strictly
					 maintained, and a set of security rules shall be developed by the testing
					 facility, which shall be approved by the Commissioner.
(4) Bias or favoritism towards an applicant
					 will not be permitted by the testing facility.
(5) A comprehensive brochure describing fees,
					 the nature of examination questions and giving sample questions shall be
					 prepared by the testing facility and distributed to an applicant at the time of
					 registration for examination or upon request at any time.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › EXAMINATIONS › Section 37.27 - Scope of examination

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Examinations will be designed to test the adequacy of an applicant's knowledge
					 of general principles of insurance and insurance laws and of particular areas
					 of insurance practice as are pertinent to the powers for which application is
					 intended. To the extent that Pennsylvania insurance laws are at variance with
					 the insurance laws of the majority of the states, Pennsylvania law will
					 control.
(b) In all examinations,
					 objective questions will be used, made up of one or more parts, and some
					 questions will be based on the following statutory provisions and subjects:
(1) Article VI of the act (40 P. S.
					 §§
													231-308).
(2) Sections 345-351, 353, 354, 414, 501, 610
					 and 805 of the Insurance Company Law of 1921 (40 P. S. §§
													470-476,
					 477a,
					 477b,
					 518,
					 631,
					 730 and
					 915).
(3) Section 1 of the act of June 22, 1931 (P.
					 L. 622, No. 211) (40 P. S. §
													483).
(4) Section 1 of the act of May 3, 1915 (P.
					 L. 217, No. 122) (72 P. S. §
													6201).
(5) Title 18 of the
Pennsylvania
					 Consolidated Statutes
, section 7308 (relating to unlawful advertising
					 of insurance business).
(6) The act
					 of December 20, 1983 (P. L. 260, No. 72) (63 P. S. §§
													1601-1608).
(7) Sections 1 and 2 of the act of July 6,
					 1917 (P. L. 723, No. 262) (72 P. S. §§
													2265 and
					 2266).
(8) The act of July 22, 1974 (P. L. 589, No.
					 205) (40 P. S. §§
													1171.1-1171.15).
(9) Article XV of the Insurance Company Law
					 of 1921 (40 P. S. §
													991.1501-991.1516).
(10) The Liability Risk Retention Act of 1986
					 (15 U.S.C.A. §§
													3901-3906).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › CERTIFICATES AND LICENSES › Section 37.31 - General application requirements

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Applicants for a certificate or a license
					 shall follow the procedures at §§
											37.33 and
					 37.34 (relating to agent
					 application procedures; and broker application procedures).
(b) The Department may issue, upon receiving
					 notice of intent to appoint by an insurance entity authorized by law to
					 transact business within this Commonwealth, a certificate to a person,
					 partnership or corporation that meets the appropriate requirements of this
					 chapter.
(c) The applicant will be
					 required to take a written examination unless the requirement is waived under
					 §§
											37.22-37.24 (relating to waiver of
					 examination for resident agents; waiver of examination for resident brokers;
					 and examination requirements for nonresident applicants).
(d) Individuals who have passed the
					 examination or its equivalent may apply to the Department for a certificate or
					 license. The application shall have attached thereto a certification from the
					 testing facility that the individual passed the examination for the powers for
					 which application is being made. The certification from the testing facility
					 will not be required if the testing facility reports test scores directly to
					 the Department.
(e) Test scores and
					 results are valid for 1 year from the date of the examination. Applications
					 received with older test results will be rejected.
(f) A certificate or license will not be
					 granted to a partnership or corporation, unless by provisions of its
					 partnership agreement or charter, it is authorized to engage in the business of
					 insurance or real estate, and individual certificates or licenses are also
					 obtained for each qualifying active partner or qualifying active officer in
					 accordance with §
											37.37 (relating to corporation or
					 partnership certificate/license).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › CERTIFICATES AND LICENSES › Section 37.32 - Completion of application and renewal forms

Current through Register Vol. 54, No. 28, July 13, 2024
Agents and brokers shall complete application and renewal
						forms accurately. Applications and renewal forms submitted to the Department
						will be examined and, if not complete and accurate, will be returned for
						correction with written notice of the reason for the return of the applications
						or forms.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › CERTIFICATES AND LICENSES › Section 37.34 - Broker application procedures

Current through Register Vol. 54, No. 28, July 13, 2024
(a) An individual broker, qualifying active
					 partner of a partnership or qualifying active officer of a corporation shall
					 apply using the appropriate application form.
(b) The broker application shall be
					 subscribed and sworn to before a notary public. Applications executed more than
					 3 months prior to the date of filing with the Department will not be
					 accepted.
(c) The broker will be
					 held responsible for the statements contained in the application. The making of
					 a false statement in an application may constitute a ground for license denial
					 or revocation.
(d) Initial licenses
					 will be valid as of the date issued by the Department until the expiration date
					 stated on the license.
(e)
					 Partnerships or corporations shall apply using the appropriate application
					 form. The form shall be signed in the name of the partnership or corporation by
					 each of its qualifying active partners or qualifying active officers, include a
					 listing of partners or officers, and be accompanied by the appropriate
					 application form for each qualifying active partner or qualifying active
					 officer.
(f) Employes of
					 partnerships and corporations who apply for a license shall apply
					 individually.
(g) Qualifying active
					 partners or qualifying active officers shall complete the appropriate
					 application form.
(h) To be
					 licensed, a partnership or corporation shall have at least one qualifying
					 active partner or one qualifying active officer as described in §
											37.37 (relating to corporation or
					 partnership certificate/license). The worthiness of a partnership or
					 corporation to be licensed is determined by the worthiness of the qualifying
					 active partners or qualifying active officers.
(i) Anyone who solicits, negotiates or places
					 risks, regardless of employment or official connection with a partnership or
					 corporation, and acts in the name of the partnership or corporation or
					 individually, shall be licensed individually.
(j) When the Commissioner is satisfied that
					 the applicant is worthy of a broker license and the applicant has passed the
					 appropriate broker examination or qualified for a waiver, the Commissioner will
					 issue a license stating that the broker has complied with the law and has been
					 authorized by the Department to transact business within this
					 Commonwealth.
This section cited in 31 Pa. Code §
													37.31 (relating to general
						  application requirements).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 37 - AGENT CERTIFICATES OF QUALIFICATION AND BROKER LICENSES › CERTIFICATES AND LICENSES › Section 37.35 - Renewal of agent certificate

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Approximately 150 days prior to certificate expiration, a notice of continuing
					 education status will be mailed to the agent. The agent will be required to
					 satisfy the continuing education requirement 60 days prior to certificate
					 expiration to be eligible for renewal of the certificate. If the agent does not
					 satisfy the continuing education requirement, the agent will be so notified. If
					 the continuing education requirement is met, the agent will be sent a renewal
					 form approximately 60 days prior to certificate expiration. Mailing to the last
					 known address of the agent will satisfy the Department's obligation to provide
					 the appropriate forms and notices.
(b) The Department will renew a certificate
					 in cases where an agent does not have an appointment, if the agent is in
					 compliance with the applicable continuing education requirements.
(c) Renewal of an agent certificate is
					 obtainable only upon submission of a completed renewal form by the certificate
					 holder, except when the holder has designated a single entity to apply for
					 renewal of the certificate, and payment of the proper fee.
(d) Agent certificates shall be renewed
					 biennially based on the agent's month and year of birth. The certificate for an
					 agent born in an even numbered year will expire at the end of the agent's birth
					 month in even numbered years. The certificate for an agent born in an odd
					 numbered year will expire at the end of the agent's birth month in odd numbered
					 years.
(e) Corporation and
					 partnership certificates will expire biennially based on the date of
					 incorporation of the corporation or the date of formation of the partnership.
					 Corporations shall provide a list of officers-active, qualifying active or
					 otherwise-with the renewal form. Partnerships shall provide a list of
					 partners-active, qualifying active or otherwise-with the renewal
					 form.
(f) Failure to complete and
					 submit the renewal form and fee by the expiration date will be deemed voluntary
					 termination by the agent. Renewal forms received by the Department after
					 expiration will be denied.
(g)
					 Failure to document compliance with continuing education requirements will be
					 deemed voluntary termination by the agent.
This section cited in 31 Pa. Code §
													39.11 (relating to penalties for
						  failure to comply with continuing education
						  requirements).