Insurance state exam prep - unit 21

Exclusive (or captive) Producers

represent only one company and have an agency relationship with that company

Limited lines producer

A person authorized by the insurance commissioner to sell, solicit, or negotiate limited lines insurance

Limited lines of authority include:

- Life insurance or annuity products used to fund a prearranged funeral program, - travel accident baggage, - credit insurance lines, - self-service storage insurance, - any other limited line of insurance permitted under state laws or regulations

Insurance Commissioner

- The chief officer of the insurance department and is elected for a four-year term - May delegate any legal duty to a deputy, examiner, or any employee - Enforces the provisions of, and execute the duties imposed by him under Delaware law - with respect to enforcement of the payment of fees, charges, and taxes, all the provisions of law conferring powers and duties upon the state treasurer also apply to the commissioner

Appeals

- The commissioners order following hearing is subject to an appeal under Delaware law. Additionally, matters on which the commissioner has refused or failed to hold a hearing or subject to appeal - upon receiving the petition for review, the commissioner must create a file and a certified record of all relevant proceedings - jurisdiction of appeals proceedings will transfer to the court of chancery, which will have sole authority to stay a commissioners ruling - The court may remain the case to the commissioner for further proceedings - from the judgment of the court of chancery, either the commissioner or petitioner may appeal directly to the Supreme Court of Delaware in the same manner as is provided in civil cases

Fees and application

- insurers certificate of authority • for filing application for initial certificate of authority, including all documents submitted as part of such application $1000 • issuance of certificate of authority $150 • annual continuation, including filing of annual statement $150 • reinstatement $150 • amendment $150 - charter documents (other than those file with applications for certificates of authority) • filing amendments To a certificate of incorporation, articles of incorporation, charters, bylaws, power of attorney (as to reciprocal insurer's) and two other constituent documents of the insurer $10 - producers and agents • permanent license (resident and non-resident) $100 • One time appointment of agent, each insurer $50 • resident license renewal (due biennially February 28 in even years) $200 • nonresident license renewal (due biennially February 28 an odd years) $200 - brokers • permanent license $100 - surplus lines broker • permanent license $250 - consultant • permanent license $100 - fraternal representative • permanent license $100 • One time appointment of fraternal representative, each society or association $50 - Business entity • initial license (resident in nonresident) $100 • resident license renewal (due biennially February 28 and even years) $100 • nonresident license renewal (due biennially February 28 an odd years) $100

Common powers and duties of the insurance commissioner

- the power to revoke licenses of companies, agents, brokers, adjusters, and consultants for just cause - The regulation of companies for solvency and most insurance premium rates - collecting fees and issuing insurance licenses - delegating examining duties by appointing examiners - conducting hearings due to complaints - issuing season desist orders for just calls (such orders are issued when the commissioner wishes an insurer or licensee to stop conducting insurance business because of wrongdoing) - reporting illegalities in the insurance business to the attorney general (The Attorney General will prosecute the individual breaking insurance laws) - regulates companies with regard to unfair claim practices - examine the records of any insurer or agency at any time by providing notice to such company or agency

Agency versus individual licensee

A Delaware certificate of authority (license) issued to a sole proprietor, partnership, association, corporation or other business entities shall be referred to as an agency license irrespective of the type of insurance transaction authorized under the license. All insurance transactions completed in the same agency shall be accomplished by an individual registered with the insurance department as to that agency and who has qualified in the same manner as required for an individual license.

Nonresident licensing

A nonresident person receives a nonresident producer license if: - The person is currently licensed as a resident and in good standing in his home state - The person has submitted the proper request for licensure and has paid the fees required - The person has submitted to the insurance commissioner the application for licensure that the person submitted to his home state, he completed uniform application or forms prescribed by the commissioner for license types and lines of authority not available on the uniform application - The person's home state awards nonresident producer licenses to residence of the state on the same bases also known as reciprocity

Business entity licensing

A Delaware insurance license is required in any firm, corporation, partnership, association, or other business and then he which conducts insurance transactions in the state of Delaware provided one or more of the following conditions exist: - of commissions, including override commissions or Simmons, or paid in the firm or agency - if the farmer agency is the producer of record - is policies related papers issued to the insured contain instructions to contact the farmer agency for insurance service - if insurance business is transacted or solicited under a trade name There are Several exceptions involved in the requirement of obtaining a license. Some of these exceptions include but are not limited to: - corporations are firms which enroll employees in group life and/or group health plans where no commission or other consideration is paid are not required to obtain a license - agencies which previously held a Delaware insurance license may be paid commissions or other considerations on business transactions which occurred prior to the expiration or termination of a license - agents who work for and place all businesses through a single insurance company or group may advertise and trade as the agency of the insurer without an agency license provided that each individual holds a personal license as an agent and all business in place through the sponsoring insurance company

Finding coverage

A binder, which may be either written or oral, provides temporary coverage until the policy is issued. Coverage under a binder usually last no more than 30 days. Generally, on property/casualty agents are granted binding authority by the companies they represent. When an oral binder is provided, the agent should record the effective date of coverage, the terms of coverage, and the names of the insured all to avoid any future disputes

Agent of the insurer

A license producer appointed by an insure to sell, solicit, or negotiate applications for policies of insurance on its behalf and, if authorized to do so by the insurer, to issue conditional receipts

Broker of the insured

A licensed producer who, for compensation, negotiate on behalf of others and contracts for insurance from companies to him he is not appointed

License requirements

A person may not sell, solicit, or negotiate insurance in Delaware for any class or classes of insurance unless the person is licensed for that line of authority. Before approving an application for a license, the insurance commissioner must find that the individual: - is at least 18 years of age - has not committed any act that is a ground for denial, suspension, or revocation - has paid the fees set forth - has successfully passed the examinations for the lines of authority for which the person has applied and the ethics portion of the exam, unless specifically exempted from the examination Licenses who have taken and pass the ethics portion of a Delaware insurance exam are not required to retake the ethics portion for the new line of authority

Insurance producer

A person required to be licensed under the laws of the state to sell, solicit or negotiate contracts of insurance or annuity or the lines of authority authorized within the scope of such a license. The terms insurance agent, insurance broker, and insurance consultant may be used interchangeably with the term insurance producer

Apparent authority

A type of authority not specifically given to an agent by the insurer. It is based upon another persons beliefs that the agent has authority. In other words, apparent authority involves the type of authority that members of the public and generally expect an agency possess.

Desk exams

Actually an inspection of an insurer's records occurring away from the company's offices and relies on the insurer to provide the requested information

Persons required to be licensed and responsibilities

Agent of the insure, broker of the insured, surplus lines broker, insurance producer, limited lines producer

Licensee's Responsibility

All licensees must retain each original course completion/course report form for a period of three years. Each licensee may be subject to a department audit of continuing education requirements. Failure to comply with a department audit may result in suspension of a licensee's license

Written examinations and exemptions

An applicant furnitured producer license must pass a written examination unless specifically exempted. An individual who fails to appear for the examination as scheduled or fails to pass examination, shall reapply and resubmit all required fees and forms before being rescheduled for another examination All examination score reports are valid for a period of 12 months from the date of examination. The following individuals are exempt from the examination requirement: - an applicant who was previously license for the same lines of authority in another state - A person licensed as an insurance producer in another state who moves to Delaware - A person who applies within 90 days of establishing legal residence to become a resident licensee - an applicant for a license as a producer for title insurance who is an attorney license to practice law and Delaware - an applicant for a license as a travel accident and baggage licensee - every applicant for a license as an automobile club licensee - an applicant for a license as a self service storage producer is exam from any prelicensing education and examination

Conversation of licenses; commissions

An insurance company or insurance producer shall not pay commission, service fee, brokerage or other valuable consideration to a person for selling, soliciting, or negotiating insurance if that person is not licensed. A person shall not except the commission if they are not licensed. Renewal or other deferred commissions maybe pay to a person for selling, soliciting or negotiating insurance if the person was required to be licensed at the time of the sale and was licensed at that time (for example, a producer retires and receives renewal commissions for several years after their license expire). An insurer or insurance producer may pay or assign commissions, services, brokerage or other valuable consideration to an insurance agency or to persons who do not sell, solicit or negotiate insurance in this state (for example, an out-of-state agency referred a client to a Delaware producer for which a finders fee is paid). An unlicensed person referring a customer or potential customer to an insurer or insurance producer and who does not discuss specific terms and conditions of a policy or give opinions or advice regarding insurance may be compensated for the referral, if the compensation: - for each referral is: • nominal • on a one-time basis • fixed in amount by referral - does not depend on whether the customer or potential customer purchases the insurance - is not contingent on the volume of insurance transacted The restrictions on referral fees do not apply to commercial lines. No producer acting as a consultant may accept any fee, commission, or other consideration from an insurer for any activity for which the producer acting as a consultant has received or will receive a fee from the client (for example, individual cannot act as an agent representing an insurer and as a consultant during the same transaction). An insurer may not pay commissions to a non-appointed as an insurance producer when an appointment is otherwise required.

Suitability

Defined as purchase recommendations which are based on the information provided by an applicant, insured, or client concerning the individuals financial situation, needs, and objectives

License maintenance

An insurance producer licensed shower main infect unless revoked or suspended as long as the fee is paid and continuing education requirements for resident producers are met by the due date. An individual insurance producer who allows a license to lapse may, within 12 months from the due date of the renewal fee, reinstate the same license without the necessity of passing a written examination. However, a penalty in the amount of double the unpaid renewal fee shall be required for any renewal received after the due date and within the first grace. Of six months from the due date of the renewal fee and maybe subject to a civil fine of not less than $200 and know more than $1000 within the second grace period of six months after the due date of the first grace period. A licensed insurance producer who is unable to comply with license renewal procedures due to military service or some other extenuating circumstance such as long-term medical disability, may request a waiver of those procedures. The license contains the license's name, address, and personal identification number, and the date of issuance, the lines of authority, the expiration date and any other information the insurance commissioner dreams necessary. The commissioner may issue a new license for any loss, stolen, or destroyed license upon written request from the licensee and payment of appropriate to use for the duplicate license. The commissioner may participate, in hole or in part, with the NAI, or any affiliates or sub sedaries the NAIU overseas, any centralized producer license registry were insurance producer licenses and appointments may be centrally or simultaneously affected for all states that require an insurance producer license and participate in the centralize producer of license registry.

Appointment of producer

An insurance producer may not act as an agent of an insurer unless a producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of the insurer is not required to become appointed. To appoint a producer as its agent, the appointing insurer must file a notice of appointment within 15 days from the date of the agency contract is executed for the first insurance application is submitted. Upon receipt of the notice of appointment, the commissioner must verify whether the insurance producer is eligible for appointment within 30 days. If the insurance producer is ineligible for appointment, the commissioner must notify the insurer within five days of its determination. An insurer must also pay an appointment fee for each insurance producer appointed by the insurer.

Lines of authority

An insurance producer may qualify for licensing for the following lines of authority: - Life insurance - variable life and annuities - sickness, accident, and health - title insurance - property insurance - casualty insurance - Fidelity and surety coverage - marine and transportation - personal lines property and casualty insurance

Termination of appointment

An insurer that terminates its business relationship with a producer must notify the Insurance Commissioner within 30 days following the effective date of the termination, whether or not the reason for termination is in accord with Delaware statute. The insurer must promptly notify the Insurance Commissioner if the insurer discovers additional information that would have been reportable to the Insurance Commissioner had the insurer then known of its existence. Within 15 days after making the notification required, the insurer must mail a copy of the notification to the producer at his last known address. If the producer is terminated for cause, the insurer must use certified mail, return receipt requested, postage prepaid or overnight delivery using a nationally recognized carrier. Within 30 days after the producer has received the notification, the producer may file written comments with the Insurance Commissioner. In the absence of actual malice, an insurer, the authorized representative of the insurer, a producer, the Insurance Commissioner, or an organization of which the Insurance Commissioner is a member and that compiles the information and makes it available to other Insurance Commissioners or regulalpry or law enforcement agencies shall not be subject to civil liability. Any documents furnished by an insurer or producer are, by law, confidential and privileged, not subject to subpoena, nor to discovery nor admissible as evidence in any private civil action. No one who receives documents while acting under the authority of the Insurance Commissioner can be required to testify in any private civil action, An insurer that fails to report as required or that is found to have reported with actual malice by a court of competent jurisdiction may, after notice and hearing, have its license or certificate of authority suspended or revoked and may be fined.

Surplus lines broker

Any individual, partnership, or corporation holding a surplus lines brokers license who acts or aids in any manner and negotiating contracts of insurance with an insurance company not licensed (unauthorized or non-admitted) to transact business in Delaware. Any person, while license in the state as a resident or nonresident producer for General lines, which includes all lines of authority except life insurance, variable annuity, and title insurance, who is deemed by the commissioner to be competent and trustworthy with respect to the handling of surplus lines may be licensed as a surplus lines broker

Express authority

Anything in insurance specifically instruct an agent to do. It may include a legal agreement between the insurar and the agent acting on its behalf

Market conduct exam categories

Comprehensive exams, targeting exams, re-exams, multi state or zone exams, desk exams, specialized exams

Exemptions

Delaware law with regards to continuing education shall not apply to: - newly licensed individuals during the biennium in which they were licensed - Limited lines producers writing consumer credit, title, crop/hail, surety, and car rental insurance - resident adjuster's licensed solely for surety and/or marine and transportation - non-resident adjusters and non-residence public adjusters - Limited lines producers for life insurance or annuity products you solely to fund a pre-need arranged funeral program An individual continuously license for 25 years or longer or who holds a professional designation will receive an automatic credit of 12 hours and each reporting period. Approved professional designations are the AAI, CEBS, CLU, CPCU, CHFC, SLMI, CSP, SSPA, CIC, and RHU. Automatic credits may not be applied to the mandatory ethics, long-term care, or flood insurance continuing education requirement.

Disclosure letters and forms

Disclosure form also known as a buyers guide, policy summary, and outline of coverage, signed by both the agent and the client, describes the product being sold and how it applies to the needs of the client. A disclosure letter is mailed to the client after the sales presentation to summarize what was propose in any decisions that were made

General Penalties

Each violation of Delaware insurance law, in addition to any sanctions on licenses, may result in: - A find of no more than $2,300 - imprisonment of no more than one year - both If the violator is a corporation, the fine musty more than $6900 for each violation. Also subject to find imprisonment are any: - Director - officer - manager - employee - representative of a cooperation found in violation After the discretion of the commissioner or in the attorney general, any fine provided for under Delaware law may be covered on behalf of the state by civil action brought against the violator

Targeted exams

Focuses on a limited number of specific areas

Extension of time or waiver

For good call Sean, the commissioner may grant an extension of time during which the requirements may be completed. The extension will not exceed 12 months. Good calls includes disability, natural disaster, or other extenuating circumstances. Each request for extension of time must be in writing from the licensee and include details and any documentation to support the request. Each request must be received by the commission or no less than 30 days before the expiration of the biennium period. Continuing education requirements maybe waved in writing by the commissioner for good cause. Good cause includes long-term illness or incapaacity, serving full-time in the arm forces of the United States of America on active duty outside of the state of Delaware, and any other emergency situation seemed appropriate by the commissioner. Request for waivers must be made in writing and submitted to Department at least 30 days before the expiration of the biennium period.

Comprehensive exams

Full scope reviews which exam in all aspects of an insurance operations

Duties of license personnel

It is the duty and responsibility of all person's license in the state who transact insurance business to contact her business in good faith and with sound business principles

Ethical behavior and good moral standards

In accordance with the findings of a survey conducted by the American Society of CLU and CHFC, professionalism requires an agent to: - Play the clients interest beyond one's own self interest; the agent must sell based on the clients needs to ensure that the product provided are suitable - Be dedicated to the industry and supportive of all its members companies in representative; the professional will obtain the industry education necessary to provide clients with appropriate recommendations - offer quality plans and represent quality companies An ethical agent: - learns very early the difference between right and wrong in business and sales practices and acts accordingly - willingly assume the obligation to perform his duties in a way that reflects the highest degree of dignity on the industry investors the interest of the client or prospect.

Casualty insurance

Insurance against a persons legal liability for bodily injury or property damage to others arising out of: - The operation, maintenance, or use of a motor vehicle - worker's Compensation injuries - ownership of property - personal activities - burglary, robbery, and theft - boiler and machinery losses - malpractice - Business activities

Life insurance

Insurance coverage on human lives. The transaction of life insurance includes the granting of endowment benefits, additional benefits in the event of disability or just member by accident, additional benefits in the event of the insurance disability, and optional modes of settlement of proceeds of life insurance

Health insurance

Insurance of human being against bodily injury, disablement, or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance pertaining thereto

Property insurance

Insurance on real or personal property of every kind against loss or damage from any and all hazards or calls in against consequential loss. Property insurance does not include title insurance

Specialized exams

Involve the review of specialty insurars such as preferred provider organizations (PPO), dental plans, or workers comp carriers

Multi state or zone exams

Involves several states working together to review and insurer

Notice of address change

Licenses must inform the insurance commissioner of a change of address within 30 days of the change. Failure to timely informed the commissioner of a change in legal name or address will result in a penalty

Penalties

Licenses who failed to complete the required continuing education and who have not been granted an extension to comply maybe find up to $2000 and have their licenses suspended for one year. Licensees to submit falls or fraudulent information may be fined up to $15,000 and have their licenses permanently revoked.

Implied authority

Maybe establish by prior experience or the conduct of an insurer indicating the intention to provide the agent with the authority to act on its behalf

Concurrent licensees

Qualified individuals make can currently hold an insurance license for any line of insurance as an individual and as a register member of one or more agencies. Dual licensing is required only when the licensee to trans some portion of his insurance business through an agency and the remainder of his business as an individual (E. G., Where the agency is not involved)

General requirements

Resident licensees required to fulfill continuing education requirements shall complete 24 credit hours of Department approved education subjects, three of which shall be in ethics subjects during each biennium reporting period. Producers who sell long-term care policies must complete at least three hours of training in Delaware long-term care insurance. Resident licensees who are authorized to write homeowners or personal lines coverage must complete a two-hour continuing education course related to flood insurance and the National Flood Insurance Program as part of their requirement. Limited representatives, adjusters, and fraternal agents shall be required to fulfill 12 credit hours of Department approved education subjects, three of which shall be in ethics subjects during each biennium reporting period. Resident licensees subject to this regulation shall file with the Department a copy of their completed course report forms. Course report forms must be received on or before March 20 following the preceding biennium compliance date. Failure to timely file will result in notice of suspension and fines. Resident licensees will receive a continuing education transcript at least 90 days prior to the end of a license biennium and the licensee is responsible for reviewing the transcript for accuracy. To dispute the Department's accounting, the licensee must submit a written exception prior to the biennium deadline (February 28 of even years) and include a copy of the course report form. The maximum number of carryover credits shall not exceed five credits in a biennium reporting period. Carryover shall not apply to ethics credit requirements. Ethics credits in excess of the mandatory requirement may apply to non-ethics credit requirements.

Termination, suspension, and fines

The Commissioner may revoke, deny, or nonrenew a license for any one, or combination, of the following causes, including: - providing incorrect, misleading, incomplete, or materially untrue information in the license application; - violating any insurance laws, regulation, subpoena, or order of the Delaware Insurance Commissioner or the Insurance Commissioner of another state; - obtaining or attempting to obtain a license through misrepresentation or fraud; • improperly withholding, misappropriating, or converting any moneys or properties received in the course of doing insurance business; • intentionally misrepresenting the terms of a contract or application; • felony conviction; • unfair trade practice or fraud: • using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness, or financial irresponsibility in the conduct of business; • having an insurance producer, adjuster, or appraiser license, or its equivalent, denied, suspended, or revoked in any other state, province, district, or territory; • forgery: • cheating on a license examination; - knowingly accepting insurance business from an individual who is not licensed; failing to comply with a child support obligation; failing to provide preliminary responses to inquiries from the department regarding violations within 21 calendar days of such inquiry; or • failing to pay state income tax. For nonrenewal or denials of applications, the Insurance Commissioner must notify the applicant or licensee in writing. The applicant or licensee may, within 10 days, demand a hearing to determine the reasonableness of the Insurance Commissioner's action. The license of a business entity may be suspended, revoked, or refused if the Insurance Commissioner finds, after a hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers, or managers acting on behalf of the partnership or corporation and the violation was neither reported to the insurance commissioner nor corrective action taken. In addition to or in lieu of any applicable denial, suspension, or revocation of license, any person may, after hearing, be subject to a fine of not less than $200 and not more than $20,000 for each such violation. The commissioners order will specify the date upon which the phone should be paid and will revoke the license of any licensee feeling to comply with the order. The date on which payment shall be due shall be not less than 30 days following the date of the commissioners order unless otherwise specified in the order. The commissioner may institute a civil action to recover fines so levied and shall pay over all fines paid and recover to the state treasurer. The commissioner may place any individual or business and a date on probation for a period of one year for violation of any insurance laws, rules, regulations and orders. The probationary period will not exceed one year. A person whose license has been revoked or suspended on two occasions may not again be licensed. For license applications denied for one or more of the above causes, the applicant is an eligible to reapply for one year following the date of the denial of the application.

Liquidity

The ability to pay off liabilities as they become due

Examination of insures and producers (market conduct examinations)

The commissioner is in power to examine the affairs, documents, and assets of each authorized insurer as often as appropriate to determine its financial condition and competence. The commissioner must examine each domestic insurer at least once every five years. Examinations of alien insurers are limited to insurance transactions and affairs in the United States. The commissioner also examines each ensure applying for an initial a license to transact insurance business in Delaware. in addition to insures, the commissioner may also examine: -agents, solicitors, brokers, general agents, adjusters, ensure representatives, any other Delaware resident conducting insurance business * must conduct each examination expeditiously and partially. The commissioner or his examiner must issue and certify a written report of each examination.

Hearings

The commissioner may hold a hearing, without request by others, for any purpose within the scope of Delaware law. The commissioner must hold a hearing upon a written application for a hearing by an aggrieved party. An application for hearing must be filed in the department within 90 days of the act or order being appealed. If the commissioner finds that the application is made in good faith and with just calls, he must hold the hearing within 30 days after filing, unless postponed by mutual consent The commissioner must give written notice of the hearing no less than 20 days in advance, stating the time, date, and place of the hearing and specify the matters to be considered In the course of a hearing, the commissioners and power to: -subpoena witnesses, administer oath or affirmation's, examine any individual Underoath, take the depositions and issue subpoenas for evidence Any person knowingly testifying falsely under oath will be charged with perjury. Persons requesting to be excused from a hearing on the grounds of their testimony may be self Dash incriminating must comply with the direction of the commissioner or Attorney General and will be immune from prosecution or penalty, unless such immunity is expressly waived The commissioner must issue his order on the hearing within 30 days and provide a copy of the order to each party of the hearing. The order must contain: -A concise statement of facts found by the commissioner - it can say statement of the commissioners conclusions from the facts so found - The order and the effective date - A citation of the provisions of the Delaware insurance code upon which the order is based

Market conduct

The ethical measure of how an insurer and its agents Conduct them selves in the marketplace. Proper market contact involves conducting the business of insurance fairly and responsibly. A market contact examination occurs in the state insurance department investigators exam in the business practices an operations of an insurer and as agents.

Temporary licensing

The insurance commissioner may issue a temporary insurance producer license for a period not to exceed 180 days without requiring an examination: - to the surviving spouse or personal representative of a licensee who dies who becomes mentally or physically disabled, to allow adequate time for the sale of the insurance business owned by the producer licensee, or for the recovery or return of the licensee - to an employee of an insurance producer, upon the death or disability of an individual designated in the business entity application or license - in any other circumstance for the insurance commissioner James at the public insurance will best be served by The issuance of this license The insurance commissioner may: - limit the authority of any temporary licensee in any way do you necessary to protect insurance and the public - require the temporary license he to have a sponsor who assumes responsibility for all acts of temporary licensee - revoke temporary license if the interest of insured or the public are endangered A temporary license may not continue after the owner or the personal representative disposes of the business.

Recordkeeping

The license he shall maintain at his principal place of business license issued by the commissioner, together with such records as may be reasonably required by the commissioner. Records shall be retained and available for inspection by the commissioner for a period of three years. The record shall show, for each policy or contract place or counter signed by or through the licensee, names of the insurers, insured, policy number, expiration date, premium payable, and any other information as a commissioner may require

Purpose

The purpose of this regulation is to establish requirements for insurance education and ethics for resident producers, insurance adjusters, public adjusters, and surplus lines workers to ensure a high level of professionalism for the benefit of Delaware consumers

Compliance date

This is February 28 of the continuing education reporting. Which resident license to continue education for nonresident renewal is required. Each license biennium shaw Kamenz on March one and end February 28 of the odd year period for nonresidents and the even year for residents

Lingering implied authority

This means that an agent retains "sign or evidences of authority" such as letterhead with a companies logo or applications printed with a companies name, which could mislead an applicant or an insured

Solvency

Total assets exceeding total liabilities

Re-exams

Used to determine if an insurer complied with the findings of an earlier exam