An insurer must enter the name and license number of an insurance producer into its company register within how many days?

An insurer must enter the name and license number of an insurance producer into its company register within how many days?

• A. 15 days
• B. 30 days
• C. 45 days
• D. 60 days

Answer: (B)

The correct answer is 30 days because insurance regulations specify that insurers are required to record the name and license number of each insurance producer they engage within this timeframe. This rule is designed to ensure that all producers are duly registered and monitored, promoting accountability and compliance with state laws. Keeping accurate and timely records helps maintain a transparent operational framework, essential for upholding trust in the insurance industry. The 30-day window allows insurers to promptly manage their producer activities while remaining compliant with regulatory requirements.

The correct answer is 30 days because insurance regulations specify that insurers are required to record the name and license number of each insurance producer they engage within this timeframe. This rule is designed to ensure that all producers are duly registered and monitored, promoting accountability and compliance with state laws. Keeping accurate and timely records helps maintain a transparent operational framework, essential for upholding trust in the insurance industry. The 30-day window allows insurers to promptly manage their producer activities while remaining compliant with regulatory requirements.