Question

A domestic insurer cannot change the investment policy of a separate account without first filing the change with the Director. That change will become effective 60 days after it was filed.

a) True
b) False

Answer 1

A domestic insurer must indeed file any changes in investment policy with the Director, and such changes typically take effect after a 60-day waiting period.

Step-by-step explanation:

The statement that "A domestic insurer cannot change the investment policy of a separate account without first filing the change with the Director.

That change will become effective 60 days after it was filed" is a) True.

The regulation of domestic insurers often includes requirements for notification procedures and waiting periods before changes to investment policies can take effect.

This ensures regulatory oversight and helps to protect the interests of the policyholders.