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XCEL - NY Life, Accident, & Health Laws 2024/2025 already graded A+
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XCEL - NY Life, Accident, & Health Laws 2024/2025 already graded A+
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XCEL - NY Life, Accident, & Health LawsSuperintendent of Insurance - ANSThe head of the Department of Insurance.
Appointed by the Governor for a 4-year term.
Examination of Records - ANSThe Superintendent may conduct a financial examination of any
insurance company as often as deemed appropriate.
6 years - ANSHow long must an insurer must maintain required records for?
Cease and Desist Order - ANSA person who is charged with engaging in an unfair method of
competition or committing an unfair or deceptive act or practice is entitled to a heating before
the Superintendent.
10 Days - ANSThe person must be notified of the time and place of the hearing at least ___
days in advance.
Hearings - ANSThe Superintendent can administer oaths, examine witnesses, and receive
evidence during a ________. A written or oral report must be made to the Superintendent
stating the findings.
120 Days - ANSIf the Superintendent determines that a civil penalty should be imposed, he or
she may enforce the judgement without a court proceeding within ___ days.
Adjuster - ANSAny individual who, for a fee, investigates and settles a claim arising from an
insurance contract on behalf of an insurer.
Consultant - ANSProvides (for a fee) advice, recommendations, and information regarding the
terms, conditions, benefits, coverage, or premiums for insurance policies.
Producer - ANSan insurance agent, broker, reinsurance intermediary, excess lines broker, or
other person required to be licensed in New York to sell, solicit, or negotiate insurance.
Agent - ANSany authorized or acknowledged agent of an insurer, fraternal benefit society, or
health maintenance organization.
Broker - ANSsells and negotiates insurance on behalf of the insured.
Business Entity - ANSa corporation, association, partnership, limited liability company, or limited
liability partnership, and may be licensed as an agent.
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