Answered

What is the function of a Certificate of Authority?

A. It allows an insurer to transact insurance in Georgia.
B. It gives the Commissioner of Insurance the authority.
C. It is given to all agents when they receive their licenses.
D. It is given to the Department of Insurance by the Federal Insurance Regulation Board to allow it to enforce the provisions of the Insurance Code.



Answer :

GinnyAnswer

Final answer:

A Certificate of Authority allows insurers to transact insurance in a specific state.


Explanation:

A Certificate of Authority is a credential that allows an insurer to transact insurance in a specific state, ensuring compliance with regulations. It grants legal permission for the insurance company to operate within that state's jurisdiction.


Learn more about Insurance regulation here:

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