NYS LAH- Insurance Regulation other part 1

an independent adjuster may include

a firm who acts on behalf of the insurer

When does NYS LAH license expire

on the agent's bday every odd numbered year

Every insurance company in NYS must file annually with superintendent to show

solvency

Violation of controlled business practices takes place when

15% of agents annual commission is from business sold to agent's family

How many days must insurer notify consumer for a investigative consumer report

3 days

what entity can revoke a producer's license

Dept of financial services

What person is required to hold producer license

Person who negotiates insurance contracts

Who represents the insured in the investigating of a claim

Public adjuster

Required to be licensed as an insurance producer

Salaried employee who advertises/solicits insurance

A spouse was granted a temporary license for her deceased husband's agency on March 1. On May 1 she processed an application for life insurance on a new applicant. Which of the following is true?

Application was processed without a valid license

Change of email address you must

Inform the dept within 30 days

Temporary license will not be issued for

an agent's retirement

Federal law makes it illegal for any individual convicted of a crime involving dishonesty or breach of trust to work in the business of insurance affecting interstate commerce

Without receiving written consent from an insurance regulatory authority