Casualty Adjuster - Answer Any person, legal entity, or business that investigates claims and negotiates settlements
-Connecitcut does not require licensing for anyone adjusting fire, life or accident/health; property damage exceeding $1,500; or anyone engaged in the general practice of law
...
CT Adjusters Exam - Chapter 12
Revision Exam Questions Answered
Correctly.
Casualty Adjuster - Answer Any person, legal entity, or business that investigates claims and negotiates
settlements
-Connecitcut does not require licensing for anyone adjusting fire, life or accident/health; property
damage exceeding $1,500; or anyone engaged in the general practice of law
Impersonation - Answer A monetary fine for this act is *no more than $4000*, prison up to *6
months*, or both
License Fee - Answer $80 plus a $50 filing fee
Term of License - Answer Expire on *June 30th* of every *odd* number year
Renewal - Answer The license will remain in effect for another *2 years*
-The license exam may be waived by the Commissioner if the applicant holds a like license in his or her
state
Anyone acting as an adjuster without the proper license may be fined up to *$2,000, recieve a prison
sentence for one year, or both*
Changes in Name, Address, or Licensee Status - Answer Notice of any changes must be provided within
*30 days* to the Commissioner - crime and bankruptcy must also be reported
*Violating this regulation will result in a fine of $100*
, Reporting Actions - Answer A producer must report to the Commissioner any administrative action
against him or her by another state/government agency *within 30 days of the final diposition*.
Assumed Names - Answer No indiviaul or business entity is permitted to advertise or conduct
insurance transactions under any name NOT on the file.
-Must notify Commisioner *prior to using it*
Public Adjuster - Answer Any person, legal entity, or business that works on behalf of the insured
*do not dicuss coverage*
The Commissioner - Answer The Commissioner has the power to grant, suspend or revoke an insurance
license - appointed by the governor
-If the license is suspended or revoked, the Commissioner must notify the license holder and sponsoring
insurer
*$5,000* fine may also be imposed by Commissioner
Cease and Desist Order - Answer When an individual is sent a notice of a hearing, he or she will also
recieve a cease and desist order. This means that the individual must cease all insurance related activies
until the hearing is held
-if violated can get fined up to *50,000* or a suspension/revocation of license.
Hearings - Answer The Commissioner will send a notice of hearing to the licensee - the hearing will be
held not less than *30 days* of the notice
Suspension and Revocation of a License - Answer 1. Providing incorrect and *materially untrue*
information on application
2. *Violating any insurance laws*
3. Obtaining or attempting to obtain a license through mispresentation or *fraud*
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