Licensing of Insurers

Licensing of Insurers A. Authority and Control – The Department has the sole authority and control over the issuance, grant, denial, refusal, suspension, revocation, expiration, termination, continuance, and renewal of licenses and certificates of authority for all insurers. B. License Forfeited – Upon the revocation or forfeiture of a license or certificate of authority, said license shall be considered forfeited and no longer valid. C. Notice and Hearing– Notice and hearing in accordance with this Regulation are required before the suspension or revocation of a license or certificate of authority. Suspension, refusal or revocation of a license or certificate of authority must be for certain statutory causes. D. License Expiration– The license of an insurer is of a continuing nature, and shall only expire upon the suspension, revocation or forfeiture of an insurer’s license. When administrative action is taken to suspend or revoke an insurer’s license or certificate of authority, then the license or certificate of authority expires the last day for review of any Department Order or at a later date if so fixed by a court. E. Domestic Insurers – Domestic insurers may become licensed and obtain a certificate of authority by complying with all statutory requirements, including but not limited to those of Title 83, Chapter 19 of the Code of Mississippi, completing and filing with the Department all necessary forms and providing any other information required by the Department. Copies of such forms and instructions regarding required information may be obtained at the Department’s website; www.mid.ms.gov . F. Foreign Insurers – Foreign insurers may become licensed and obtain a certificate of authority by complying with all statutory requirements, including but not limited to those of Title, 83, Chapter 21 of the Code of Mississippi, and completing and filing with the Department all necessary forms and providing any other information required by the Department. Copies of such forms and instructions regarding required information may be obtained at the Department’s website; www.mid.ms.gov . G. Non-Admitted And Alien Insurers – Insurers may be considered for placement on the Department’s eligible list of non-admitted insurers by complying with all statutory requirements, including but not limited to Miss. Code Ann. §83-21-17, and completing and filing with the Department all necessary forms and providing any other information required by the Department. Copies of such forms and instructions regarding required information may be obtained at the Department’s website; www.mid.ms.gov . H. Annual Filings – Admitted insurers must annually complete and file with the Department all necessary forms and any other information required by the Department. Copies of such forms and instructions regarding required information may be obtained at the Department’s website; www.mid.ms.gov .