CT adjuster 12-CT Law
Telemarketers who transmit prerecorded messages to consumers who have not agreed to accept such messages will be fined up to:
$16,000 per call.
If the Commissioner finds an intentional violation of the prohibitions against the sale or disclosure of identifiable medical record information, the Commissioner may impose a penalty of up to ____ for each violation.
$20,000
CT law requires a minimum:
$20k per person/$40k per accident/$10k property
If, after a hearing, the Commissioner determines that a person charged has willfully engaged in an unfair method of competition or an unfair or deceptive act or practice, the Commissioner may order a penalty of not more than _____ for each and every act or violation.
$25,000
The Connecticut Insurance Guaranty Fund is obligated to pay claims (other than worker's compensation claims) up to a maximum limit of:
$400,000
Any person who violates a cease and desist order of the Commissioner while the order is in effect will, after notice and hearing, be subject to a monetary penalty of not more than ____ for each and every act or violation.
$50,000
Anyone who threatens, forces or corruptly influences, obstructs or impedes the due and proper administration of the fraud law relating to the insurance business may be fined and/or imprisoned up to:
10 years.
CT law requires an insurer to provide ___ days written notice when cancelling for auto non-payment and ___ days for other reasons:
10/45
Connecticut law say that binders may be oral or in writing for a period of:
30 days but not exceeding 60 days.
Order of fines:
50K for violation cease/desist 50K for Fed Insurance Fraud/False Statements 25K for unfair comp/trade practices 20K for intentional violations of medrecs 16K for telemarketers 5K for suspension/revocation of license 4K for impersonation 2K for acting as adjuster after expiration of license
In CT an insurer must provide _____ days written notice when NON_RENEWING a homeowners or fire policy for a reason other than non-payment:
60.
If a producer fails to comply with the continuing education requirements, the Commissioner will provide the person with a 30 day notice of an impending license suspension. Once the license has been suspended it will not be reinstated for at least ___ days.
90 days.
If any person engages in activities in violation of the Federal Insurance Fraud and False Statements regulation, he or she may be subject to a civil penalty of up to:
A civil penalty of not more than $50,000.
An insurance company that is authorized to conduct business in a particular state:
Admitted insurer.
CT law also states an insured may not take legal action against an insurer unless:
All policy provisions and condition have been complied with.
Which of the following would be a violation regarding the sharing of commissions?
An agent may not share commissions with an unlicensed person nor pay a finders fee.
Under the BAP medical payments coverage is:
An optional coverage.
In CT, having or using an insurance license from another state that has been denied, suspended or revoked is considered to be:
An unfair trade practice.
If the CT commissioner want to investigate/examine the books and records of an insurer or licensee he can do so:
Anytime.
State insurance law specifies that all policy forms of insurance must be:
Approved by the Commissioner.
State operated facility which makes auto insurance available to individual who are unable to secure it in the normal market:
CT Auto Insurance Assigned Risk Plan
Any person, legal entity, or business trade name D.B.A. who or which invesitgates claims and negotiates settlements of claims:
CT definition of a casualty adjuster.
In CT admitted insurers are issued:
Certificates of authority which allows it to sell insurance.
Unreasonable restraint by means of intimidation is an example of:
Coercion and is an unfair insurance trade practice.
Failure of any person in CT to maintain complete records of all the complaints which is has received since the date of its last examination has:
Committed an unfair trade practice.
An insurer who is incorporated or chartered in the State of CT.
Domestic Insurer.
No insurer may cancel or non-renew a property insurance policy once it has been in effect for 60 days or more unless the insured has:
Engaged in material misrepresentation/fraud, failed to pay the required premium, or substantially altered or increased the risk without notifying the insurer.
In CT an umpire under the appraisal process will be paid:
Equally by both parties.
CT act that was designed to protect the public against the publishing or making public personal information of an individual:
Insurance Information and Privacy Protection Act.
Persons who do not come in contact (either in person or through another mode of communication) with the insured clients are usually exempt from:
Insurance licensing requirements.
In the event the named insured dies, the CPP interest is automatically transferred to the deceased's:
Legal representative.
The Homeowners deductible does not apply to which of the following?
Liability.
Owned by its policy holders:
Mutual company.
An insurer who has not been issued a certificate of authority and cannot operate in CT is known as:
Non-admitted insurer.
The regulation of policy forms:
Protect the public against the possibility of unfair provisions in the insurance contract.
To cancel a homeowners, fire insurance, and CPP in CT:
Requires 10 days written notice for non-payment and 30 days for any other valid reason.
If an insurer intends to cancel a personal automobile policy for an approved reason (other than nonpayment of premium) it must provide a _____ day cancellation notice to the insured with the reasons for the cancellation.
The insurer must be provided a 30-day notice.
Examination expenses incurred when the CT Commissioner decides to audit an insurer will be the responsibility of:
The insurer.
The statute of limitations in CT for actions founded upon a tort or for personal injuries is:
Two years.
In CT if you have been convicted of a prior felony, you can only obtain a license if:
Written permission from an authorized representative of the Insurance Department has been issued.
A requirement for licensing is that the applicant must not have been convicted
a felony. If the adjuster commits a felony after he or she has been licensed, the license will be revoked.
Unreasonable restraint by means of intimidation is an example of
coercion and is an unfair insurance trade practice.
Information from a consumer investigative report can not be used by
law enforcement of governmental agencies in crime investigations.
The Commissioner may require a waiting period not exceeding
six months before reexamining an applicant who has failed to pass any examination.
An insurance professional has willfully embezzled or misappropriated money, premiums or other property of an insurer. Under the Federal Insurance Fraud and False Statements Act, the violator is subject to imprisonment for up to:
10 years.
Temporary workers are not considered to be:
A covered employee under a CGL.
A business adjusting claims in Connecticut without a license is subject to:
A fine of $2,000 and imprisonment for one year, or both.
An insurer who is chartered in another country but is authorized to conduct insurance business in CT:
Alien insurer.
Whenever a policy is cancelled:
All excess or unearned premium must be returned to the insured.
Who is required to participate in the CT Auto Insurance Assigned Risk Plan?
All insurers authorized to solicit auto insurance in CT.
Name/address of insured, policy period/number, name of insurer/agent, description of insured business, a list of each covered part and its premium, the total policy premium, countersignature of agent, and other forms added.
Common declarations for the CPP.
In a Claims-Made policy, if no retroactive date is indicated on the decs page, how will the policy respond?
Coverage is provided for full prior acts causing BI or PD.
In Connecticut, how is the deductible determined that applies to a wind or hail loss?
Deductible is based on a percentage of Section I coverages..
Written consent under the Transfer of Rights and Duties provision is not needed if the insured:
Dies.
Other types of random CT unfair trade practices would include:
Failure to pay child support obligations and failure to pay CT income tax.
The CT Commissioner examines domestic insurers at least one every:
Five years.
An insurer who is authorized to conduct business in CT but its charter and principal office is located in another state:
Foreign insurer.
In CT an agent or producer who withholds material information on an application for insurance has engaged in:
Fraud
The federal law that requires insurers to give customers written privacy notices is:
GLB
Transported vehicles are covered under:
Gargagekeepers coverage.
Fund that protect the insurance buying public against the insolvency of insurers (in CT):
Guaranty Association.
In CT an adjuster must notify the state within 30 days if:
His/her business address, residence address or email address changes. It would be a fine of $100.00
The common declarations page of the CPP does not:
Identify any deductible.
A CT adjuster license expires every two years by which date?
June 30th of every odd year.
In CT if a notice of hearing is sent out by the commissioner it must:
List the charges/accusations against the licensee and will be held in not less than 30 days.
In CT property coverage must be:
Made available, the practice of redlining is prohibited.
If a CT adjuster license expires and a person continues to practice, the penalty is:
May be fined up to $2,000, receive a prison sentence up to one year, or both.
Purchasing auto liability policy, posting a bond, depositing cash/securities or self-insuring (if permitted):
Methods of meeting CT financial responsibility law.
After a hearing (in CT), any individual found guilty of engaging in any unfair marketing practice may be fined for each violation:
Not more than $5,000
CT law also states an insured can only take legal action against the insurer within:
One year of the loss.
Under the trucker's policy, what type of vehicle is covered for towing coverage?
Only a private passenger type vehicle such as a sedan.
Why is a property bond not acceptable for CT financial responsibility law?
Property bond is not acceptable because of the constant changing of real estate values and other issues that could arise.
Owned by its stockholders:
Stock company.
Non-admitted insurer carrier may receive business when it is acting as:
Surplus lines insurer.
Any person engaging in unfair and prohibited trade practices will have his/her insurance license:
Suspended or revoked after a hearing and be subject to monetary penalties.
State insurance departments approve policy forms, endorsements and rates using four broad methods:
They are prior approval, file and use, use and file, and open competition.
What is the time frame for filing a law suit involving an automobile accident in Connecticut?
Three years.
Failure of a licensed insurer to exercise its authority to write a particular line or lines of business in CT for ____ may constitute sufficient cause for revocation of the insurer's authority.
Two consecutive calendar years.
CT adjuster impersonation penalties:
Unfair act punishable by a fine of not more than $4,000, prison for up to six months, or both.
In CT, Suspension of license, Imprisonment and Revocation of one's rights to transact insurance are penalties that can be assessed against a producer who engages in?
Unfair sale or marketing practices.
Per statute of limitations laws in CT actions founded upon product liability have to be brought:
Within three years from the date of injury/death.
Per statute of limitations laws in CT actions founded upon tort law have to be brought:
Within two years from the date of the act/omission. CT tort/two
Persons who do not come in contact (either in person or through another mode of communication) with the insured clients are
usually exempt from insurance licensing requirements.
