Georgia Laws, Rules, and Regulations Pertinent to Life, Accident, and Sickness Insurance
What is the operative difference between a Georgia stock insurer and a mutual insurer?
Answer and explanation
Answer: D. Section 33-14-2 defines both as incorporated insurers, distinguished by ownership: shares held by shareholders in the stock form, no capital stock and policyholder ownership in the mutual form. Both may be supervised and both may write life insurance.Source: O.C.G.A. § 33-14-2 — 33-14-2(1)-(2) compared
More georgia laws, rules, and regulations pertinent to life, accident, and sickness insurance questions
- A Georgia insurer has no system of control over its advertisements and a misleading one reaches the public. What is the position?
- A Georgia insurer is both due for its periodic examination and under investigation for trade practices. Which authorities apply?
- A Georgia insurer refuses to pay a claim without looking into the facts. Which enumerated practice does that match?
- A Georgia insurer routinely offers claimants substantially less than they ultimately recover, so that claimants must sue. Which unfair claims practice is that?
- A Georgia insurer's annual report shows capital divided into shares, a board answerable to shareholders, and profits distributed as dividends on those shares. Which form is it?
- A Georgia lender conditions a loan on the borrower buying insurance through the lender's own agency. Which provision most directly fits?
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