Lesson 12 NC Statues and Regulations of Accident/Health Insurance Flashcards

1
Q

Accident, Accidental Injury, Accidental Means

A

must be defined to imply “result” language and may not include words that establish an accidental means test.

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2
Q

Adjuster

A

individual who for a salary fee or commission investigates or reports to his principal relative to claims arising under insurance contracts.

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3
Q

Broker

A

A person who being a licensed agent procures insurance for a part other than himself through a duly authorized agent of an insurer.

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4
Q

FINRA

A

Financial Industry Regulatory Authority

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5
Q

Insurance Producer or Producer

A

person required to be licensed to sell, solicit, or negotiate insurance.

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6
Q

Medicare

A

Title XVIII of the US SS act as added by the SS amendments of 1965 or as later amended or superseded

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7
Q

Reasonable and customary

A

most frequently used level of charge made for supplies or for a specific service in the geographic subarea in which supplies or services are received.

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8
Q

No alteration of any written application may be made by any person other than the applicant without his written consent, except that insertions may be made by the insurer, for administrative purposes only

A

FACT

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