Which entity regularly maintains a list of non-admitted alien insurers?

Prepare for the Florida Surplus Lines Insurance Exam. Use flashcards and multiple choice questions with hints and explanations. Set yourself up for success!

The correct answer is the International Insurance Department (IID), as this entity is specifically tasked with overseeing non-admitted alien insurers. The IID maintains a list that helps insurance professionals and consumers identify which foreign insurers are operating in the United States without the formal approval of state insurance departments. This is particularly important for surplus lines insurance, which deals with carriers that have not been licensed by a specific state.

The National Association of Insurance Commissioners (NAIC) plays a significant role in setting standards and coordinating regulatory practices among state regulators, but it does not maintain a specific list of non-admitted alien insurers.

The Federal Insurance Office (FIO) primarily focuses on monitoring the health of the insurance sector as a whole and does not maintain records specifically for non-admitted alien insurers.

The Securities and Exchange Commission (SEC) regulates the securities industry, including stock markets and publicly traded companies, and it does not have a role in insurance oversight or the maintenance of lists related to non-admitted insurers.

The IID's specific focus on insurance regulation makes it the appropriate entity for this question regarding non-admitted alien insurers.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy