What must an insurer provide to the commissioner after receiving a written notice of a complaint?

What must an insurer provide to the commissioner after receiving a written notice of a complaint?

• A. A written report within 5 business days
• B. A written report within 10 business days
• C. A written report within 15 business days
• D. A written report within 20 business days

Answer: (D)

When an insurer receives a written notice of a complaint, it is required to submit a written report to the commissioner within a specified timeframe. The correct answer indicates that this timeline is 20 business days. This requirement serves a regulatory purpose, ensuring that complaints are addressed in a timely manner and allowing the commissioner to monitor the insurer's compliance with relevant laws and regulations. Providing a 20-day period reinforces the expectation that insurers should handle complaints with seriousness and diligence while also granting them enough time to obtain the necessary information and formulate a comprehensive response. This process helps maintain accountability and transparency in the insurer's operations and strengthens the overall consumer protection framework within the state.

When an insurer receives a written notice of a complaint, it is required to submit a written report to the commissioner within a specified timeframe. The correct answer indicates that this timeline is 20 business days. This requirement serves a regulatory purpose, ensuring that complaints are addressed in a timely manner and allowing the commissioner to monitor the insurer's compliance with relevant laws and regulations.

Providing a 20-day period reinforces the expectation that insurers should handle complaints with seriousness and diligence while also granting them enough time to obtain the necessary information and formulate a comprehensive response. This process helps maintain accountability and transparency in the insurer's operations and strengthens the overall consumer protection framework within the state.