Appeal from the Order of the Insurance Commissioner of the Commonwealth of Pennsylvania in case of In Re: Hearing -- Liberty Bell Life Insurance Company, dated January 4, 1972.
Walter R. Milbourne, with him Obermayer, Rebmann, Maxwell & Hippel, for appellant.
Charles D. Cowley, Assistant Attorney General, with him Gerald Gornish, Deputy Attorney General, and J. Shane Creamer, Attorney General, for appellee.
Judges Crumlish, Jr., Kramer, Wilkinson, Jr., Mencer, Rogers and Blatt. President Judge Bowman did not participate. Opinion by Judge Rogers.
This is an appeal from an adjudication of the Insurance Commissioner of Pennsylvania imposing upon
the appellant, Liberty Bell Life Insurance Company, a fine in the amount of Twenty-five Thousand Dollars ($25,000.00).
The fine was imposed pursuant to, and based upon the Commissioner's conclusion, after hearing, that the appellant had violated Section 354 of The Insurance Company Law of 1921, Act of May 17, 1921, P.L. 682, Article III, added by the Act of June 23, 1931, P.L. 904, § 2, as amended, 40 P.S. § 477(b), which in pertinent part provides:
"It shall be unlawful for any insurance company . . . doing business in this Commonwealth, to issue, sell, or dispose of any policy, contract, or certificate, covering life, health, accident, personal liability, fire, marine, title, and all forms of casualty insurance . . . or any other contracts of insurance, or use applications, riders, or endorsements, in connection therewith, until the forms of the same have been submitted to and formally approved by the Insurance Commissioner. . . .
"Forms so filed . . . shall be deemed approved at the expiration of thirty (30) days after filing, unless earlier approved or disapproved by the Insurance Commissioner. . . .
"Such approval shall become void upon any subsequent notice of disapproval from the Insurance Commissioner. . . . "Upon any disapproval, the Insurance Commissioner shall notify the insurer in writing, specifying the reason for such disapproval; and within thirty (30) days from the date of mailing of such notice to the insurer, such insurer may make written application to the Insurance Commissioner for a hearing thereon, and such hearing shall be held within thirty (30) days after receipt of such application. The ...