How long does a licensee have to notify the Department of Insurance about a change in name or address?

How long does a licensee have to notify the Department of Insurance about a change in name or address?

• A. 12 months
• B. 6 months
• C. 90 days
• D. 30 days

Answer: (D)

The requirement for a licensee to notify the Department of Insurance about a change in name or address is set at 30 days. This timeframe ensures that the Department has current and accurate information, which is essential for maintaining communication and ensuring compliance with regulations. Timely notification is also critical for the administration of licensing and to avoid any potential issues that could arise from having outdated information. The 30-day period provides a reasonable window for licensees to inform the Department while also emphasizing the importance of keeping their contact details up to date.

The requirement for a licensee to notify the Department of Insurance about a change in name or address is set at 30 days. This timeframe ensures that the Department has current and accurate information, which is essential for maintaining communication and ensuring compliance with regulations. Timely notification is also critical for the administration of licensing and to avoid any potential issues that could arise from having outdated information. The 30-day period provides a reasonable window for licensees to inform the Department while also emphasizing the importance of keeping their contact details up to date.