NC Statues and Regulations

Coercion

A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. This is an example of

The friend is licensed in the same line of insurance

A friend helped an insurance producer sell an insurance policy. The producer can share the commission with the friend if

A misdemeanor

An agent found representing an unlicensed company is guilty of

The disclosure is with the written authorization of the individual

An insurance institution, agent, or insurance-support organization shall not disclose any personal or privileged information about an individual collected or received in connection with an insurance transaction unless

90 days

An insured has how many days to request information about a decision?

Elected in a general election for a 4-year term

How is the commissioner of insurance selected for the office?

The commissioner may suspend or revoke the person's license

If a licensee fails to notify the Commissioner of insurer insolvency, if known or suspected

Automatically suspended

If a licensee is convicted of a crime their license is

Insurer accepting payment

If an insurer accepts premium payments by credit card, who is responsible for paying the fees charged by a credit card company?

Also be liable for the expenses of the investigation

In cases where the Commissioner shall find evidence that any complaint against a company is justified, in addition to any penalties, the company should

Defamation

Making false statements about the financial condition of any insurer that are intended to injure any person in the business of insurance

$1,000

Maximum monetary penalty the Commissioner will order instead of suspending or revoking a license

Class H felony

Persons who either assisit or provide false or misleading information regarding a claim are guilty of a

Automobile Insurance

The Post-Assessment Insurance Guaranty Association covers which type of direct insurance?

12 months

The required privacy disclosure notice must be provided by insurer to current policyholders at least once in any period of ____________

10 days

When an agent changes his address or email, the Department of Insurance must be notified within

Pretext interview

Where a person, in an attempt to obtain information about a person, pretends to be someone he is not or pretends to represent someone he is not representing