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