Chapter 6: Colorado Statutes, Rules and Regulations Pertinent to Casualty Only
Producers must keep a copy of an insured's disclosure statement for A. (x years) B. From date of ____
A. 3 years B. from date of completion
Anti-Fraud plans must be submitted to the commissioner
Annually
How often will the Commissioner examine domestic insurers in CO?
At least once every 5 years
Sole proprietors, partners and corporate officers actively engaged in business may...
Elect to be included by an endorsement as an employee of the insured employer
Insurer uses intimidation strategy to corner a portion of the market. This is ____
Illegal
When denying a claim, an insurer must do all of the following EXCEPT
Pay a claim that occurs after grace period has ended
Only reason an insurer can cancel a 60+ day policy with 10 days notice is if
the policy premium is not paid when due
Liability limit of death for one person in CO: ($x)
$25,000
Type I insurances:
-Assigned motor vehicle insurance -Employer liability -Worker's Comp
Type II insurances:
-Inland Marine -Fire -Casualty -Title -Credit
Pre-licensing certificate is valid for (x year(s))
1 year
Notice of an injury compensable under Workers Compensation must be given to the employer to the division and the insurance carrier within (x days)
10 days
A producer is required to remit premiums from a trust account to an insurer within (x days) of receipt
45 days
An insurer who violates a single provision of an unfair trade practice regulation may be fined (up to x dollars)
Up to $30,000