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In the United States, Certified Insurance Counselor (CIC) is an insurance agent professional certification designation. The CIC certification program was started by the National Alliance for Insurance Education & Research in Austin, Texas in 1969. [1] Some CIC courses can be used to fulfill state continuing education requirements for licensing ...
The California Department of Insurance (CDI), established in 1868, is the agency charged with overseeing insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in California. The CDI has authority over how the insurance industry conducts business within ...
Executive Order 2013-1. Executive Order 2000-2. Website. www.michigan.gov /difs. Michigan Department of Insurance and Financial Services (DIFS), formerly the Office of Financial and Insurance Regulation, is a principal department in the Michigan executive branch with responsibility for insurance and financial institutions.
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
In 2018, Bowtie raised HK$234 million (US$30 million) in Series A funding, with investors including the Sequoia-associated HK X-Technology Fund and Sun Life Insurance. [ 6 ] [ 7 ] [ 8 ] In December 2018, Bowtie received a license as a virtual insurance company from the Insurance Authority of Hong Kong, becoming the first virtual insurance ...
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
In Virginia, where insurance is not compulsory, residents must pay the state a $500 annual fee per vehicle if they choose not to buy liability insurance. [20] Penalties for not purchasing insurance vary by state, but often include a substantial fine, license and/or registration suspension or revocation, and possible jail time.
The California Insurance Code are the codified California laws regarding insurance. The code not only covers requirements for home, auto, medical and business insurance policies, but also covers the licensing of bail bond agents, workers' compensation, motor club services, and other related business types. Topics include: classes of insurance ...
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