How many days notice must a company provide to the Commissioner for issuing a temporary or emergency license?

A company must provide five days' notice to the Commissioner before issuing a temporary or emergency license. This duration is stipulated to ensure that the regulatory body can adequately assess the situation surrounding the need for such a license and maintain oversight of the licensing process.

Providing notice allows the Commissioner to stay informed about license issuances, ensuring that all necessary checks and regulations are adhered to, protecting both the interests of consumers and the integrity of the insurance market. This timeframe strikes a balance between the need for prompt action during emergencies and the necessity for regulatory scrutiny.

This specific notice period is vital for maintaining a structured and accountable licensing process within the industry.