TDI
Commissioner of Insurance
Maximum an individual can be fined for ignoring cease and desist order
$5K
Stock Co
This agent is not required to take a TX exam to write policies in non emergency situations
Non Resident Agent
Giving money back to sell a policy
Rebating
Complaint files are kept for ___ years
3
Failure to complete continuing education requirements results in a fine of ____ per deficient credit hour
$50
Allows companies to sell insurance in TX
Certificate of Authority
This allows an agent to write and bind on a companies' behalf
Appointment
Charging different rates to those in same actuarial class
Unfair Discrimination
Cease-and-Desist Order
Companies operating w/o a license can be fined up to ______ per violation per day
$10K
This includes soliciting, accepting applications, and executing insurance contracts.
Transacting Insurance
Emergency PCA
It's illegal for a resident to drop charges unless they are a business resident with over _______ in assets.
$5 million
The commissioner can examine records at any time for any reason - new companies are subject to this ____ year for the first 3 years and once every _____ years after that
once
5
If licensed is revoked producer must wait _____ years to reapply.
5
Mutual Co.
This license holder mitigates losses and exposures
Risk Manager
Insurance Licenses in TX are for general public business which mandates that at least 25% of agents premiums have to come from unknown consumers.
Controlled Business
If you are appealing a ruling from TDI you can appeal within ____ days. Hearing to be scheduled within ___ days no later than ____ days.
30
10
20
4 ways that your license could be suspended or revoked
Acting as agent w/o lic
Willful violation
Misrep in obtaining lic
Conversion of money
Misrep terms and cond of pol
Twisting
Conviction of a felony
Rebating
Geico was formed under jurisdiction of DC which makes them a ___________ company.
In Florida Geico is a _______ company.
In Canada Geico would be a(n) _____ company.
Domestic
Foreign
Alien
This agent specializes in risks that are unable to be procured through standard insurance market
Surplus Lines Agent
Failure to recover deductible, failure to make prompt, equitable settlements, and failure to acknowledge communications.
Unfair Claims Settlement Practice