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Question

Difficulty: EasyLicense Maintenance and Continuing Education

Producer David recently moved his residence to a new apartment in a different city within the same state. According to standard state insurance regulations, within how many days must he notify the Department of Insurance of his change of address?

  1. A
    10 days
  2. B
    15 days
  3. 30 daysAnswer
  4. D
    60 days

Answer

30 days
Under standard state insurance regulations, licensed producers are required to notify the Department of Insurance (or Commissioner/Director) of any change in their residential, business, or email address within 30 days. Failure to do so can result in administrative penalties.

Step-by-Step Solution

1
Identify the specific regulatory event described in the scenario.
The event is a change of residential address by a licensed producer.
Different regulatory events (e.g., address change, criminal conviction) have specific reporting deadlines.
2
Recall the statutory timeframe required for reporting this specific event to the state regulatory authority.
Standard state insurance regulations require notification within 30 days.
The Department of Insurance must maintain current contact information to properly supervise licensees and deliver official correspondence.

Key Concept

Licensees must notify the Department of Insurance of any change of address (residential or business) typically within 30 days to maintain their license in good standing.
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Topics

License Maintenance and Continuing Education

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