INDIANA LIFE AND HEALTH RULES AND REGULATIONS EXAM (2023/2024) RATED A+

INDIANA LIFE AND HEALTH RULES AND REGULATIONS EXAM (2023/2024) RATED A+ Insurance Commissioner • Appointment by Governor • Member of NAIC Insurance commissioner Duties responsible for overseeing the Department of Insurance, which regulates insurance companies operating in Indiana. works to promote improvements to insurance laws and the enforcement of said laws in Indiana.[ Certificate of Authority Licensed companies receive a _______________________________ to conduct the business of insurance or operate as a health maintenance organization in the State of Indiana. Admitted company insurance company is one that is "admitted" by a particular state to do business as an insurance company. insurance company must conform to the regulations of a particular state's Department of Insurance. In addition to meeting minimum regulations for admission, admitted carriers must also file their rates with the state, which the state must approve. One of the benefits of working with an admitted carrier is that the state has the responsibility to pay an insurer's claims, up to state-specified limits, in the event of the company's insolvency. Non Admitted Insurance Company insurance company ithat doesn't operate under an individual state's insurance laws. As a result, a non-admitted insurance company doesn't enjoy the benefit of having its claims resolved in the event of a bankruptcy. Domestic Insurance Company insurer is one formed under the laws of this state; Foreign Insurance Company An insurer from any state other than indiana Alien Insurance company is one formed under the laws of any country other than a state of the United States. Frequency of Fiscal examinations Waiving examinations for foreign and alien companies Resident Producer Lives in the state in which business is conducted non resident producer lives in a different state than where business is conducted (No pre-licensing study course or examination is required. A non-resident license will grant the same scope of authority as granted by the producer's home state.) temporary producer under certain circumstances IDOI may issue a temporary insurance producer license for not more than 180 days if deemed necessary for the servicing of an insurance business in the best interests of the public. Consultant are sales agents whose main job is to provide information to people about various insurance plan options. They provide consultations, discuss fees and set up insurance contracts with customers Limited Lines producer "Limited line credit insurance producer" means a person who sells, solicits or negotiates one or more forms of limited line credit insurance coverage to individuals through a master, corporate, group or individual policy. o Flight o Baggage o Title o Credit o Funeral Directors who