Title 22, Business Regulation

If any provision of this article or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the article which can be given effect without the invalid provision or application, and to this end the …

This article shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states that enact it. SOURCE: GC § 43236.

This article may be cited as the Uniform Insurers Liquidation Act. SOURCE: GC § 43237.

All acts or parts of acts which are inconsistent with the provisions of this article are hereby repealed to the extent of such inconsistency. SOURCE: GC § 43238. ARTICLE 7 BROKERS, GENERAL AGENTS, SUB-AGENTS AND SOLICITORS

It shall be unlawful for any person to do or perform any act in Guam as an insurance broker, general agent, sub-agent, or solicitor, or hold himself out as such, for any kind of insurance without having first obtained a license issued by the Commissioner. Licenses and the renewal…

The Commissioner shall investigate the qualifications of any person applying for a license or renewal. For the purpose of his investigation, he shall require the applicant to file with him a statement, verified under oath, as follows: (a) The name, age, business and residence add…

For the protection of the people of Guam, the Commissioner shall not permit a person to continue as licensed to sell insurance pursuant to this Article unless such person has demonstrated, to the satisfaction of the Commissioner, that in addition to meeting the standards containe…

Requirements. The statement of the applicant required by § 15702 shall be accompanied by the following: (a) If the application is for a general agent's license, the request of the insurer that the applicant be licensed to represent such insurer as a general agent; (b) If the appl…

(a) A person applying for a resident insurance producer license shall make application to the Commissioner of Banking and Insurance on the Uniform Application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application…

(a) [No text.] (1) No person, corporation or bank shall act as an agent of any: (A) local mutual aid association; (B) local mutual burial association; (C) statewide mutual assessment corporation; (D) government mutual insurance company; (E) casualty company writing accident and h…

(a) The Commissioner may, for the reasons contained herein, refuse to issue or renew a license, or may suspend or revoke a license, for any of the following reasons: (1) The person has wilfully violated any provision of this Title; (2) The person has intentionally made a material…

(a) Unless denied licensure pursuant to § 157119, a non- resident person shall receive a non-resident producer license if: (1) the person is currently licensed as a resident and in good standing in that person’s home state; (2) the person has submitted the proper request for lice…

(a) The paying or allowing of any commission or other valuable consideration on insurance transacted in Guam by an insurer or its agent to other admitted insurers or to licensed brokers, agents, or solicitors for solicitation of the business is lawful. (b) If at the time of the s…

As used in this Section, the following terms have the following meanings: (a) Co-payment is the partial payment of medical expenses, emergency room services, or prescription drugs required by an individual who is enrolled in a group health insurance plan. For example, a co-paymen…

Wellness Incentives in Health Plans or Health Insurance Policies. (a) It shall not be unlawful for an insurer to offer or sell, or for a broker, agent or solicitor on behalf of an insurer to offer or sell, a health plan or health insurance policy which provides for a refund or re…

It is unlawful for an insurer, broker, agent, or solicitor to cause or permit to be issued, circulated or used, any misrepresentation of the following: (a) The terms of a policy issued by the insurer or sought to be negotiated by the person making or permitting the misrepresentat…

It is unlawful for an insurer to pay any representative who is given discretion as to the settlement or adjustment of claims under any insurance, whether in direct negotiations or in supervision of the person negotiating, which in any way is contingent upon the amount of settleme…

No person, except a person otherwise licensed under this article, shall make any adjustment under an insurance policy covering hazards described in Article I of Chapter 18 of this Title, unless he shall hold a license under this section or is exempted therefrom. (a) An insurance …

Issued. (a) Definitions. (1) In this Section, “person” means an individual or business entity. The term “partnership” or “agency partnership,” as used in this Section, means a general partnership or a registered limited liability partnership. (2) In this Section, the term “corpor…

Any person who is found violating any provision of this Article, shall pay a fine of not more than Five Thousand Dollars ($5,000.00). SOURCE: Added by P.L. 29-002:V:I:94 (May 18, 2007). ARTICLE 8 SURPLUS LINE BROKER OR AGENTS

License. The Commissioner of Banking and Insurance, upon receipt of an application in proper form and a license fee of One Hundred Dollars ($100.00), may issue a surplus line license to any duly qualified and licensed insurance broker or agent in Guam. Such license shall permit t…

Condition: Rights Conferred by License: Expiration Date. Before receiving such license, such surplus line broker or agent shall execute and deliver to the commission a bond in the penal sum of two thousand dollars ($2,000.00) in such form and with such sureties as the Commissione…

Contents. Before the person named in such license shall procure, effect or issue any such insurance policy or indemnity contract or surety bond, he or she shall in every case execute and file with the Commissioner his or her affidavit in acceptable form that the insured is unable…

Filing of Power of Attorney: Validity of Power. Such surplus line insurance shall only be issued after the insured has procured insurance in companies admitted to do business on Guam to the full amount which such companies are willing to write on such property. Every policy issue…

Every such broker or agent shall keep a separate account of the business done under his surplus line license and on or before the first day of July in each year, shall file with the Commissioner a statement for the calendar year preceding, giving the name of the insured to whom s…

Suit: Duty of Agent on Being Served with Process: Time for Answer: When Jurisdiction Deemed Acquired. (a) Every company, insurer or insurers making insurance under the provisions of this section shall be deemed and held to be doing business in Guam as an unlicensed concern, and m…

Action for Recovery: Revocation of License: Conditions Prerequisite to Reissuance. (a) Every such broker or agent who fails or refuses to make and file said annual statement, and to pay the taxes required to be paid thereon prior to the first day of July after such tax is due, sh…

This Article governs the qualifications and procedures for the licensing of insurance adjusters. It specifies the duties of and restrictions on adjusters.

(a) Adjuster means an individual, a business entity, an independent contractor, or an employee of a contractor, who contracts for compensation with insurers or self-insurers, and who investigates, negotiates, or settles claims for insurers or for self- insurers. (b) Appraiser mea…

No person shall make any adjustment under an insurance policy covering any hazards which are insured on Guam, unless he or she shall hold a license in accordance with this Article, or is exempt from licensure as an adjuster under this Article.

The definition of adjuster shall not be deemed to include, and a license as an adjuster shall not be required of the following: (a) attorneys-at-law admitted to practice on Guam, when acting in their professional capacity as an attorney; (b) a person employed solely to obtain fac…

(a) An individual applying for an adjuster license shall submit an application to the Commissioner of Banking and Insurance on the appropriate National Association of Insurance Commissioners (NAIC) Uniform Individual Application, or other application prescribed by the Commissione…

(a) Unless denied licensure pursuant to § 15910 of this Article, persons who have met the requirements of § 15905 of this Article shall be issued an adjuster license. An adjuster may qualify for a license for any lines of authority which are authorized under the laws of Guam. (b)…

(a) An individual applying for an adjuster license shall pass a pre-licensing test and present a certificate of completion of thirty (30) credit hours of pre-licensing adjuster courses to the proctor prior to taking licensing examination. (b) An individual applying for an adjuste…

(a) An individual who applies for an adjuster license in Guam who is licensed in another state for the same line(s) of authority and who plans to reside in Guam is exempt from taking the general section of Adjuster’s exam but is not exempt from taking the Guam specific exam perta…

Adjuster’s licenses will not be granted to persons who are not residents of Guam, except as provided in § 15909.1 of this Article.

Emergency Independent Adjusters. (a) In the event of an emergency situation as declared by the Governor of Guam, claims arising out of the emergency or catastrophe may be adjusted by a licensed non-resident adjuster upon application with the Commissioner, if all of the following …

(a) The Commissioner of Banking and Insurance may place on probation, suspend, revoke, or refuse to issue or renew an adjuster’s license or may levy a civil penalty in accordance with Guam law, or any combination of the above actions, for any one (1) or more of the following caus…

(a) Resident persons licensed to adjust losses on any or all of the following classes of insurance, such as fidelity and surety, fire, marine, motor vehicle, property damage and liability, workmen’s compensation, and miscellaneous lines claims shall complete a total of fourteen (…

(a) The adjuster shall report to the Commissioner of Banking and Insurance any administrative action taken against the adjuster in another jurisdiction or by another governmental agency in Guam within thirty (30) days of the final disposition of the matter. This report shall incl…

The Commissioner of Banking and Insurance may, in accordance with the Administrative Adjudication Law found in Chapter 9, Title 5 Guam Code Annotated, promulgate regulations to carry out the purposes of this Article.

If any provision of this Article or its application to any person or circumstance is found to be invalid or inorganic, such invalidity shall not affect other provisions or applications of this Article which can be given effect without the invalid provision or application, and to …

Any person violating any of the provisions of this Article, or any of the regulations issued hereunder, or any lawful order of the Commissioner, shall be fined according to fees promulgated in accordance with the Administrative Adjudication Law. ----------

Detection. (a) Except for a fraternal benefit society, a health care insurer that offers, issues for delivery, delivers, or renews in Guam, a health care insurance plan, shall provide coverage for the costs of prostate cancer screening tests as required under the schedule describ…

Colorectal Cancer Examinations and Laboratory Tests. (a) Except for a fraternal benefit society, a health benefit plan issued or renewed on or after January 1, 2018, shall provide coverage for all colorectal cancer examinations and laboratory tests specified in current American C…

Insurance Policy. (a) (1) Every policy of health insurance issued or renewed to a resident of Guam on or after January 1, 2019, except a policy that provides coverage only for specified and limited benefits, shall provide coverage for screening by low-dose mammography for occult …