GRAY SQUIRREL
how long is a DL-123 valid?
30 DAYS
If MetLife takes on the risk of an insured their policy is what kind of policy?
Voluntary
TRUE or FALSE
Liability coverage listed at 30/60 will always be ceded.
TRUE!
DOUBLE JEOPARDY!
What is the abbreviation for the indicator you will find on a policy that is listed with a FS-1?
There is no indicator on a policy that would reflect that a FS-1/FS-4 was provided.
How will a loss on an antique vehicle be settled in NC?
Any loss will be settled based on ACV at the time of the loss OR the stated limit shown on the declaration page whichever is less.
When adding a new driver to a NC policy, how do we rate them?
We do not immediately rate drivers when they are added to a NC policy. We first add them as non-rated to receive their DL-123 and later obtain their license.
Liability coverage at 250/500 for NEW BUSINESS policies does not require partnership with underwriting when?
Underwriting approval is not required for NEW business if prior declaration page confirms this limit OR higher was provided by prior carrier.
In NC, a vehicle must be how old to be considered antique- when can the coverage become effective?
25 years old
& on receipt of proof!
TRUE OR FALSE
In NC policy holders receive a flat rate discount for their vehicles having airbags – this discount is 20% and became available in July 1990.
FALSE!
Discount varies between 20-30%
How are all notices sent in NC for NONPAY, NEW BUSINESS, MIDTERM, and NONRENEWAL?
Deductible factors, comprehensive factors, as fell as engine size factors are not applicable to what two types of recreational vehicles?
Snowmobiles & Golf Carts
Short rate cancelation on a policy in force for 32 days requires what percentage of the 6-month premium?
28%
Policy holders in NC were not always able to select combined uninsured motorist/underinsured motorists coverage- when did this option become available?
02/01/10
Uninsured Motorists Coverage (UM) will pay compensatory damages which the insured is legally entitled to recover from the owner or operator of an uninsured motor vehicle because of what?
Uninsured Motorists Coverage (UM) will pay compensatory damages which the insured is legally entitled to recover from the owner or operator of an uninsured motor vehicle-
The owner's or operator's liability for these damages must arise out of the ________, ________ or use of _____________.
ownership, maintenance or use of the uninsured motor vehicle
What percentage of premium goes toward the fees associated with certificates of financial responsibility?
(FS-1/FS-4)
There is no percentage of premium that goes toward FS-1/FS-4 as there is no additional premium charge for the issuance of an FS-1/FS-4 😊
In March of 2018, The NC Reinsurance facility changed manual average rate levels for PD to
+_____%?
10.6%
Canceling your policy in NC does not require written request, when?
Written request to cancel is waived for all state to state transfers within MetLife Auto & Home or policy is being replaced by another MetLife Auto & Home (or affiliate) policy for the same line of business.
A driver who is no longer considered an eligible risk on a NC auto policy does not what?
*Hint 2 things
1. own a registered vehicle
2. have a valid drivers license
TRUE OR FALSE
When the criteria is not met for named driver exclusion on a new business group policy in NC, underwriting, a supervisor, or sales support all have the ability to provide an override.
TRUE!
DOUBLE JEOPARDY!!
Rule 14.G MISCELLANEOUS COVERAGES is coverage for what specifically?
Coverage for Audio, Visual and Data Electronic Equipment in the NCRB Personal Auto Manual for the applicable coverage and rates.
TRUE OR FALSE
Rental coverage in NC automatically mimics the coverage of the least covered vehicle listed on the policy.
FALSE!
The rental vehicle will mimic the coverage of the most broadly covered vehicle- meaning the vehicle with the most coverage but lowest deductible of any listed vehicle.
In NC insurers cannot decline offering coverage to anyone- what is this insurance code?
58-39-65
In the rating and underwriting of noncommercial private passenger motor vehicle and residential property insurance coverage, insurers shall not use credit scoring as the sole basis for terminating an existing policy or any coverage in an existing policy or subjecting a policy to consent to rate- what insurance code is this?
58-36-90 (B)
FINAL JEOPARDY!!
Babe Ruth hit his first home run on March 17, 1914 in North Carolina- but in what city?
Fayetteville