What is the main purpose of a temporary license, and how long can it be in effect?
to continue servicing insurance business in catastrophic events for a period of 180 days.
How long does a producer have to notify the Commissioner of a change of address?
must inform commissioner within 30 days of the change.
How often must continuing education be completed?
CE is required every 3 years or 36 months.
When can the Commissioner examine books and records of each authorized insurer? Who is responsible for cost of the examination?
commissioner may examine any company at any time, but at least once every 5 years. The costs of examination is paid by the company being examined.
Upon what grounds can a license be suspended or revoked?
license can be suspended or revoked for violating any insurance laws or regulations.
What document must an insurance company hold to transact insurance business in this state?
certificate of authority
When can a producer represent an insurer?
when the insurer appoints producer
If an agent's appointment with the insurer is terminated, how long does the insurer have to notify the Commissioner?
the producer has 30 days of the of termination to inform the commissioner of termination.
What constitutes rebating?
Rebating includes premiums payable on the policy, special favors or services, advantages in dividends or benefits, stocks, bonds, securities, and their profits (and similar inducements)
When a pretext interviews acceptable?
in cases of criminal activity
What is the purpose of the Fair Credit Reporting Act?
to protect the consumers rights.
What is the difference between a consumer report and an investigative consumer report?
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