If the Commissioner does not specify a duration for a revocation, how long is the intermediary's license revoked for?

If the Commissioner does not specify a duration for a revocation, how long is the intermediary's license revoked for?

• A. 1 year.
• B. 5 years.
• C. 5 months.
• D. 15 months.

Answer: (B)

The duration of a revocation of an intermediary's license, in the absence of a specification by the Commissioner, is established by Wisconsin state law. According to the regulations, if the Commissioner does not explicitly state a time period for the revocation, the revocation automatically lasts for five years. This provision ensures that there is a clear guideline and standard timeframe that applies uniformly, thereby providing certainty to the affected parties regarding the consequences of the revocation. Understanding the context and the regulations governing property insurance practices in Wisconsin is crucial, as it determines how licenses can be suspended or revoked for various reasons. In contrast, shorter durations like five months or fifteen months would not align with the established law regarding the default revocation period, which specifically designates five years as the standard duration without explicit guidance from the Commissioner.

The duration of a revocation of an intermediary's license, in the absence of a specification by the Commissioner, is established by Wisconsin state law. According to the regulations, if the Commissioner does not explicitly state a time period for the revocation, the revocation automatically lasts for five years. This provision ensures that there is a clear guideline and standard timeframe that applies uniformly, thereby providing certainty to the affected parties regarding the consequences of the revocation.

Understanding the context and the regulations governing property insurance practices in Wisconsin is crucial, as it determines how licenses can be suspended or revoked for various reasons. In contrast, shorter durations like five months or fifteen months would not align with the established law regarding the default revocation period, which specifically designates five years as the standard duration without explicit guidance from the Commissioner.