NC Health Insurance Exam
Appointment of Agents
* Prior to April 1 of each year, every insurer shall remit the renewal appointment fee.
Appointment of Agents
* Within 15 days the insurer shall file in a form issued by the Commissioner (Wayne Goodwin) the name of the individual
Application for License
A business entity selling, soliciting, or negotiating insurance shall obtain an insurance producer license. Ex: FullHR has an insurance producer license.
General License Requirements
A business entity that sells, negotiates, or solicits insurance shall be licensed. EVERY MEMBER OF THE BUSINESS PERSONALLY ENGAGED IN THIS STATE IN SOLICITING POLICIES OF INSURANCE SHALL QUALIFY AS AN INDIVIDUAL LICENSEE EX: FullHR waiting to hire me due to needing my Health Insurance License.
General License Requirements
A health insurance license authorizes a resident agent to sell Medicare supplement and long-term care insurance policies if the agent takes and passes a supplemental written examination for the insurance license.
General License Requirements
A license issued to an agent authorizes him to at until his license is otherwise suspended or revoked. Upon suspension or revocation of a license, the licensee shall return it to the Commissioner (Wayne Goodwin).
General License Requirements
A license of a broker, limited representative, adjuster, or motor vehicle damage appraiser shall be renewed on April 1st each year, and renewal fees shall be paid.
General License Requirements
A life insurance license authorized a resident agent to sell variable contract if the agent satisfies the Commissioner (Wayne Goodwin) that the agent has met the Financial Industry Regulatory Authority (FINRA) requirements of the Secretary of State in NC.
General License Requirements
A limited rep., may receive qualification for one or more licenses without examination for the following kinds of insurance: 1. Dental 2. Credit Life 3. Motor Club 4. Prearrangement Insurance 5. Travel Accident and Baggage AKA - Limited Rep.
Application for License
A person applying for resident insurance producer license shall make application to the Commission (Wayne Goodwin) on the Uniform Application and declare under penalty of denial, suspension, or revocation of the license that the statements made in the application are true, correct, and complete to the best of the individual's knowledge and belied. Before approving the application, the Commissioner (Wayne Goodwin) shall find that the individual: 1. Is at least 18 years of age 2. Has not committed any act that would be grounds for probation, suspension, nonrenewal, or revocation. 3. Has paid the applicable fees. 4. Has successfully passed any examinations required by law.
Resident-Nonresident Licenses - Non-Resident
An individual may qualify for a non-residence license if he holds a like license in another State of the US. A license issued to a non-resident of this State shall grant the same rights and privileges afforded a resident licensee. For NC like State licenses are: GA, TN, SC & VA
Resident-Nonresident Licenses - Resident
An individual may qualify for a residence license if he resides in NC.
Brokers - Other Requirements
An applicant must hold a valid agent's license at the time of application for the brokers license and throughout the duration of the broker's license.
Notices Loss of Residency; Duplicate Licenses
Any licenses who ceases to maintain his residency in this State shall deliver his insurance license or licenses to the Commissioner (Wayne Goodwin) within 30 days after terminating residency.
Bankruptcy/3 Days
Any person licensed shall notify the Commissioner (WaNotices Loss of Residency; Duplicate Licenses yne Goodwin) of the commencement of any bankruptcy, insolvency, or relationship proceeding affecting the person licensed. Any person responsible for notifying the Commissioner (Wayne Goodwin) shall provide the notice within three business days after the commencement of the proceeding.
Education and Training
Each applicant for a MEDICARE SUPPLEMENT AND LONG-TERM CARE LICENSE will show satisfactory completion of a 10 hour pre-licensing course.
Representation 1
Every agent or limited representative represents the INSURANCE COMPANY and NOT the insured or his beneficiary.
Representation 2
Every broker in any controversy between the insured or his beneficiary is regarded as representing the INSURED OR HIS BENEFICIARY and NOT the insurer.
Suspension, Probation, Revocation, or Nonrenewal of licenses
Failing to comply with an administrative or court order imposing a child support obligation, after entry of a final judgment or order finding the violation to have willful.
General License Requirements
NO agent shall place a policy of insurance with any insurer unless the agent has a current appointment as agent for the insurer. ex: BCBS appoints me permission to sell their products.
Suspension, Probation, Revocation, or Nonrenewal of licenses
Failing to pay State income tax.
General License Requirements
NO licensed agent, broker, or limited rep., shall solicit anywhere in the boundaries of this State, or receive or transmit an application or premium of insurance, for a company not licensed to do business in this State.
Definitions - Limited Representative
Means a person is authorized by the Commissioner (Wayne Goodwin) to solicit or negotiate contracts for particular kinds of insurance (Motor Club, Dental, Travel) and which kind of insurance is restricted in the scope of coverage afforded.
Definitions - Broker
Means a person who, being a licensed agent, procures insurance for a party other than himself through a duly authorized agent or an insurer that is licensed to do business in this State bur for which the broker is not authorized to act as an agent.
Procure
Means to Obtain
Appointment of Agents
No agent who holds a valid insurance agent's license shall solicit or otherwise act as an agent for an insurer unless the individual has been appointed by the insurer.
Interstate Reciprocity in Producer Licensing / 90 Days to Transfer Licence
OR - The NAIC's producer database indicates they are an agent is good standing.
Interstate Reciprocity in Producer Licensing / 90 Days to Transfer Licence
OR - The application is received within 90 days after the cancellation of the applicants previous license and the applicant's home state issues a certification that, at the time of cancellation, the applicant was in good standing in that sate; OR
Brokers - Bond
Prior to issuance of a license as a broker, the applicant shall file with the Commissioner (Wayne Goodwin) and thereafter, for as long as the license remains in effect, shall keep in force a bond in favor of the State of NC for use of the aggrieved parties in sum not less than $15,000.
Application for License
The Commissioner (Wayne Goodwin) may require documentation reasonably necessary to verify the information contained in an application.
Interstate Reciprocity in Producer Licensing / 90 Days to Transfer Licence
The Commissioner (Wayne Goodwin) may verify the producer's licensing status through the producer database maintained by the NAIC.
Notices Loss of Residency; Duplicate Licenses
The Commissioner (Wayne Goodwin) shall notify every appointing insurer about any suspension, revocation, or nonrenewal of a license by the Commissioner (Wayne Goodwin).
Interstate Reciprocity in Producer Licensing / 90 Days to Transfer Licence
The applicant is currently licensed in the applicant's home or state; OR
Reciprocity Provision
To the extent that other states provide for the licensing and regulation of and payment of commissions to agents, limited rep., or brokers, waive restrictions on the basis of reciprocity with respect to NC licensees applying for or holding nonresident licenses in those states, the same restrictions on licensees shall be waived.
Notices Loss of Residency; Duplicate Licenses
Upon suspension, revocation, or non-renewal, the Commissioner (Wayne Goodwin) shall notify the Central office of the NAIC.
Suspension, Probation, Revocation, or Nonrenewal of licenses
Willfully over insuring property.
