Marketing practices

Question 1

Controlled Business

Answer 1

insurance procured by a producer covering the life, property, or risks of that producer, the producer’s spouse, the producer’s employer, or his or her own business

Question 2

Rebating

Answer 2

knowingly permitting or giving under an insurance or annuity contract any of the following not specified in the contract:

special favor, advantage, or other benefit
valuable consideration or inducement
stocks, bonds, or other securities
dividends or profits on any stocks, bonds, or other securities
anything of value

Question 3

Anti-fraud plan

Answer 3

All licensed insurance companies in Colorado must prepare, implement, and maintain an insurance anti-fraud plan outlining procedures to

prevent, detect, and investigate all forms of insurance fraud;
provide for the hiring of or contracting of fraud investigators; and
report suspected or actual insurance fraud to the appropriate law enforcement and regulatory entities.

Question 4

Colorado Fraud Statute

Answer 4

The attorney general has concurrent jurisdiction with the district attorneys in Colorado to investigate and prosecute allegations of criminal conduct related to insurance fraud