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CT Specific Property & Casualty Questions and Answers Part one 100% pass | graded A+
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CT Specific Property & Casualty Questions and Answers Part one 100% pass | graded A+
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CT Specific Property & CasualtyQuestions and Answers Part one
100% pass | graded A+
30 days - ✔✔forms & rates, unless disapproved, are considered to be approved (# days) after they
are filed.
Unfairly discriminatory - ✔✔rates may not be too high, too low or...
Prior approval - ✔✔Rates for auto or home are not subject to
State Attorney General - ✔✔if the Commissioner discovers criminal violations have occurred he
must turn the investigation over to the
If determined to be guilty of violating the insurance code - ✔✔the Commissioner may fine a producer
up to $15,000 or deny, refuse to renew or revoke the producers license or both.
Cease and desist order - ✔✔requires a producer stop engaging in unfair practices. a producer who
knowingly violates a cease and desist order shall be fined up to $4,000 or imprisoned up to 6 months
or both.
certificate of authority - ✔✔a license granted to an insurer by the Commissioner giving the authority
to transact the business of insurance in this state.
Unauthorized or non-admitted - ✔✔not approved to do business in state.
Surplus Lines insurers are generally - ✔✔Unregulated
business entity producer - ✔✔a corporation, partnership or LLC who acts is an agency capacity on
behalf of the insurers it represents.
, Producer licenses remain in effect - ✔✔as long as fees are paid and continuing education
requirements are met.
12 months after license expiration - ✔✔a producer must complete ant unmet education
requirements as well as undergo 24 more credit hours of continuing education.
30 days - ✔✔producers have (# days) to notify the Commissioner of a change in legal name or address.
Twisting - ✔✔Knowingly making misleading statements or making fraudulent comparisons in order to
induce a client to drop a policy with an existing insurer and start a new one with a different company.
Max fine/ Imprisonment for violating provisions of unfair and prohibited business practices of
insurance... - ✔✔$5,000/ 30 days
fraudulent insurance acts - ✔✔acts or omissions that a person does knowingly and with the intent
to injure, defraud or deceive.
privacy protection notices - ✔✔given to customer at the time they establish the customer
relationship and annually thereafter
Fine for violating CT Insurance Information & Privacy Act regulations - ✔✔up to $20,000 per
violation and up to $100,000 total.
Hearing - ✔✔is required to suspend or revoke license
material fact - ✔✔is one which if knows would have cause the policy to be issued with
substantially different terms.
Workers Comp. Second Injury Fund - ✔✔pays additional benefits to employees who suffered
another work related injury with a new employer.
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