State specifics
What is the waiting period?
3 days
What is it called in an agent, claimant, or insured deceives an insurer for financial gain?
Fraud
What must a company have to legally write insurance?
A certificate of authority
When are benefits due by?
14th day
What percentage of an employees AWW is paid on PTD claims?
70% In case of total disability adjudged to be permanent, 70% of the employee's average weekly wages, but not in excess of the state's average weekly wage, will be paid to the employee during the continuance of the disability.
What is the retro period
No Retro
What is the fine amount for an unfair claim settlement?
$100, The minimum fine that may be imposed for committing an unfair claim settlement practice in Oklahoma is $100.
What Re the common law duties of an employer?
Safe work environment
Warning employees of danger
Competent co workers
They do NOT assume risk
If a claimant is given light duty and cannot work what are they compensated
TPD
What is another term for a written insurance contract?
Insurance policy
Employer
How would you describe a hazard?
A condition that increases the chance of a loss
If a claimant is 60% at fault for their injury what amount of an award will they receive?
No award
What is the compensation rate in OK?
66 2/3
What is covered under workers compensation?
Medical
Indemnity
And burial
How long does an employer have to provide medical treatment before the employee can seek their own?
5 days
What is on the decorations page of an insurance policy?
The name and address of the Insured and the duration of the policy
Wjat is a lawyer unable to do on a claim?
Lawyers can never act in the capacity of an adjuster without being subject to the adjuster licensing requirements of the state(s) in which they are working.
What is the max amount paid to a claimant for a serious and permanent disfigurement
50k
What is the limit for medical payments under an accepted workers compensation claim?
No limit
How often is the Oklahoma Insurance Commissioner required to examine a domestic insurer?
At least every 5 years
What database is used to search for prior claims?
An index bureau
What is the law that prohibits individuals from transacting insurance without written consent from governing authorities?
Title 18 of the United States Code (USC) Section 1033..
What is NOT covered by the federal employees compensation act?
Damages awarded by a court
How much is the fine if you don't complete your CE classes?
A fine of not more than $5,000