All of the Following Statements About Insurance Regulation Are True

question 14

Multiple Choice

All of the following statements about insurance regulation are true EXCEPT

• A)Insurance commissioners are appointed in some states and elected in some states.
• B)Insurers are subject to regulation by certain federal agencies and laws.
• C)The National Association of Insurance Commissioners (NAIC)can force states to adopt the model laws that it drafts.
• D)An insurance commissioner can revoke or suspend an insurer's license to do business in his or her state.

---

Definitions:

Structure And Technology

The organizational framework and the tools or systems used within that framework to support efficient operation and innovation.

Organisational Targets

Specific, quantifiable, and time-bound goals that an organization aims to achieve in order to fulfill its strategic objectives.

Crisis-Induced Change

Transformations within an organization or society triggered by a crisis, necessitating immediate and significant adjustments.

Innovative Change

Alterations within an organization that introduce new methods, ideas, or products to improve efficiency, productivity, or competitive advantage.