Continuing Education
How many hours of continuing education are required (on the test)?
24 hours
How long does an adjuster have to acknowledge receipt of a claim and start the claim investigation?
15 days
Commissioner of Insurance
How Old do you need to be to get an adjuster license?
18 years old
What is an insurance company incorporated in Florida and doing business in Texas?
Foreign
How many of the continuing education hours need to be in Ethics?
2 hours
What happens if an adjuster fails to meet the timeline for acknowledging a claim receipt?
Adjuster will be subjected to penalties under the Unfair Claims Settlement Practices Act
How often must the insurance commissioner audit the authorized insurance carriers in the state?
Once very 5 years
What type of crime conviction will prevent you from getting an adjuster license?
Felony
Who does not have to take the licensing exam?
Someone with CPCU or AIC designation
How many continuing education hours need to be in classroom?
12 hours (50%)
How many days does an adjuster have to affirm or deny coverage?
15 business days
The insurance company
How many days notice must you give the insurance commissioner to receive an emergency license?
5 days
If you are late renewing your license within 90 days, what is the penalty?
50% penalty
How often do you have to complete CE courses?
every 2 years
How long does an adjuster have to make claim payment after affirming coverage?
5 business days
How many days do you have to update your address with the insurance commissioner (TDI)?
30 days
Who is an adjuster that works for 1 insurance company?
Staff Adjuster
Person in position of Financial Trust?
Fiduciary
Voluntary giving up of a known right
Waiver
How does the insurance commissioner get selected?
Appointed by the Governor for a 2 year term
Who is an adjuster that represents an insured (customer)?
Public Adjuster
Exchange of Value is called?
Consideration