Which of the following insurers would be considered an Authorized Insurer by the Tennessee Department of Commerce and Insurance?

A. An insurer that is incorporated in the State of Tennessee, but has not applied for a certificate of authority.

B. An insurer that is incorporated in the State of Tennessee, but has been denied a certificate of authority.

C. An insurer that is incorporated in the state of New York and holds a certificate of authority issued by New York and Tennessee.

D. An insurer that is incorporated in the state of New York, but does not have a certificate of authority.

Question

17-07-2024
Business

Answered

Which of the following insurers would be considered an Authorized Insurer by the Tennessee Department of Commerce and Insurance?

A. An insurer that is incorporated in the State of Tennessee, but has not applied for a certificate of authority.

B. An insurer that is incorporated in the State of Tennessee, but has been denied a certificate of authority.

C. An insurer that is incorporated in the state of New York and holds a certificate of authority issued by New York and Tennessee.

D. An insurer that is incorporated in the state of New York, but does not have a certificate of authority.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-17T19:28:17-04:00

Final answer:

An insurer incorporated in New York with certificates of authority in both New York and Tennessee would be considered an Authorized Insurer by the Tennessee Department of Commerce and Insurance.

Explanation:

An insurer that is incorporated in the state of New York and holds a certificate of authority issued by New York and Tennessee would be considered an Authorized Insurer by the Tennessee Department of Commerce and Insurance. This is because having a certificate of authority from both states signifies the insurer's compliance with regulations and licensing requirements in Tennessee.

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