When an insurer appoints a customer representative, the appointment needs to be filed with the Department for compliance and oversight purposes.
When an insurer appoints a customer representative, the appointment needs to be filed with the Department. This filing ensures compliance with regulations and allows for proper oversight of customer interactions.
For example, in the insurance industry, the Department of Insurance in each state typically requires these appointments to be reported to monitor agent activities and safeguard consumer interests.
NAIC, the National Association of Insurance Commissioners, plays a crucial role in setting regulatory standards for the insurance industry, but appointments of customer representatives are usually filed at the state level with the Department.
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