Georgia Navigator Practice Exam

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What is one of the powers of the Commissioner concerning insurance companies?

To approve new insurance products directly
To examine anyone in the insurance business at any time
To issue insurance policies without regulation
To operate independently without oversight

The correct answer is: To examine anyone in the insurance business at any time

The Commissioner has the power to examine anyone in the insurance business at any time to ensure compliance with industry regulations and standards. This authority is essential for maintaining transparency and accountability within the insurance sector. Regular examinations allow the Commissioner to assess an insurer's financial stability, operational practices, and adherence to state laws, thereby protecting consumer interests and fostering a fair marketplace. This oversight helps prevent fraudulent activities and maintains the integrity of the insurance industry overall.