Insurance Regulation

Question 0

A domestic insurer is

Answer 0

One formed in your state

Question 1

And it sure is place of incorporation is Toronto Canada would be

Answer 1

Alien ensure

Question 2

In most states which of the following most accurately describe an admitted insurer

Answer 2

And insurer which can transact insurance in the state under it’s certificate of authority

Question 3

A mutual insurance company is

Answer 3

On the by its policyholders

Question 4

Offering anything of value to a prospective insurance client to induce the client to purchase insurance is called

Answer 4

Rebating

Question 5

What is an insurance producers implied authority

Answer 5

The authority that the public reasonably believes the producer has

Question 6

Under the law of agency all of the following types of authority an agent might have

Answer 6

Apparent authority
express authority
implied authority

Question 7

What is the definition of an agent

Answer 7

Someone who represents an insurance company and the soliciting and negotiation of insurance