Which party must be notified prior to using an assumed name for an insurance business?

• A. Commissioner
• B. The insured
• C. The policyholder
• D. The bank

Answer: (D)

If a company wants to operate under an assumed name (a DBA) in the insurance business, the regulator must be informed before the name is used. Specifically, the insurer must file the proposed assumed name with the state’s Insurance Department and obtain approval from the Commissioner. This requirement helps protect consumers by ensuring the name is not misleading and that the company is properly registered and identifiable.

The other parties listed aren’t the ones who oversee or authorize this filing. The insured or policyholder aren’t involved in name registrations, and a bank has no regulatory role in an insurer’s use of an assumed name.