Definitions Flashcards
Same definition as set forth in RS 22:46
Authorized insurer and/or insurer
Limited liability company, partnership, other legal entity
Business entity
Fee paid to an insurance producer
Commission
Any state or territory of the United States insurance producer maintains principal place of residence, business is licensed to act insurance producer
Home state
Any lines of authority as specified in RS 22:1547
Insurance
Person required to be licensed
Insurance producer
Document issued by commissioner of insurance
License
Credit life defined in RS 22:47 and RS 6:969.6 disability,property, unemployment, mortgage. commissioner determines limited line credit insurance
Limited line credit insurance
Insurance producer who sells, solicits or negotiates limited line credit insurance coverage
Limited line credit insurance producer
Any authority granted by the commissioner of insurance which restricts the authority of the licensee
Limited lines insurance
Insurance producer authorized by the commissioner to sell, solicit, negotiate limited lines insurance
Limited lines producer
NAIC
National association of insurance commissioner
Confer directly with or to offer advice directly to a purchaser
Negotiate
Natural or artificial legal entity
Person
Exchange a contract of insurance
Sell