When do permits issued by the Insurance Commissioner expire?

Permits issued by the Insurance Commissioner expire on December 31st of the year issued. This means that any permit granted is valid until the end of that calendar year, requiring renewal or reapplication for continued operation in the subsequent year. This standard helps to ensure that all permits are reviewed annually and that the entities holding them meet current regulations and standards set forth by the state. Keeping permits consistent with the calendar year allows for streamlined administrative processes and helps maintain effective regulation of the insurance industry.

In contrast, other options suggest expiration dates that do not align with the standard calendar structure governing such permits, which could create confusion for both the regulatory body and those being regulated.