NH Insurance Laws and Regulations Exam with accurate
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detailed solutions ||
License Display - correct answer✔✔The adjuster must exhibit his license to the an insured,
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a claimant, a witness, a
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potential witness or any other informant with whom he may deal in the course of
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investigating
or adjusting any claim.
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License Renewal - correct answer✔✔License will expire on October 1st of the second
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calendar year after its issue. || || || ||
Temporary Adjusters License - correct answer✔✔In the event of an emergency, the
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commissioner may issue a temporary license that is good for one year. || || || || || || || || || || ||
Continuing Education - correct answer✔✔Every two years, 60 days before renewing their
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license, an adjuster must must have completed 20 hours of Continuing Education.
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Disciplinary Actions - correct answer✔✔Cease and Desist Order || || || || || || ||
Suspension or Revocation || || ||
Penalties and Fines || ||
Cease and Desist Order - correct answer✔✔the Commissioner may issue and serve upon
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that person a statement of the charges and a notice of a hearing to be held.
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,Notice must be given at least 10 days before the hearing date.
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After the hearing, if the Commissioner finds the the adjuster's acts and practices to be in
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violation of the law, he will issue a cease and desist order to stop the the method of the
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adjusters competition, act or practice. || || || ||
Penalty for Violating Cease and Desist Order - correct answer✔✔If any person violates a
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cease and desist || ||
order issued by the Commissioner, he may suspend, revoke, or refuse to renew the license
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of that person.
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The Commissioner may also impose an administrative penalty of up to $2,500 for
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each method of competition, act, or practice found to be in violation.
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Suspension or Revocation - correct answer✔✔After the hearing, the Commissioner may
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suspend or revoke the adjuster's license or subject him to an administrative fine not to
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exceed $2,500. ||
The aggrieved may appeal in accordance with state code.
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Penalties and Fines - correct answer✔✔If an adjuster misrepresents his identity he will
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be guilty of a misdemeanor if a natural person, or guilty of a felony if any other person;
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and
be subject to suspension or revocation of his license and a fine not to exceed $2,500 for
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each violation. ||
, Unfair Claim Settlement Practices by Insurers - correct answer✔✔Misrepresenting
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pertinent facts related to coverage || || || ||
Failing to acknowledge and act promptly when a claim arrises.
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Failing to implement reasonable standards when promptly investigating a claim.
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Failing to affirm or deny coverage within a reasonable time after proof of loss was
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submitted.
Failure of an insurer to maintain a complete record of all complaints which it has
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received, whether or not they were deemed valid
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Knowingly underestimating the value of any claim by an insurer or by an adjuster
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representing the insurer. || ||
Adjustment and Payment of Loss - correct answer✔✔The company shall begin the
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adjustment of the loss within 15 days after receipt of notice of
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loss. The amount of loss under a fire insurance policy shall be due and payable in 60 days
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after receipt
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Rebuilding - correct answer✔✔f the company decides to rebuild or repair the property
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destroyed or injured, it shall begin to || || || || || ||
do so within 20 days after adjusting the loss.
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Neglect of Insurer - correct answer✔✔If the company neglects to adjust the loss within 15
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days after receiving notice of it, or to begin
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detailed solutions ||
License Display - correct answer✔✔The adjuster must exhibit his license to the an insured,
|| || || || || || || || || || || || || ||
a claimant, a witness, a
|| || || ||
potential witness or any other informant with whom he may deal in the course of
|| || || || || || || || || || || || || || ||
investigating
or adjusting any claim.
|| || ||
License Renewal - correct answer✔✔License will expire on October 1st of the second
|| || || || || || || || || || || || ||
calendar year after its issue. || || || ||
Temporary Adjusters License - correct answer✔✔In the event of an emergency, the
|| || || || || || || || || || || ||
commissioner may issue a temporary license that is good for one year. || || || || || || || || || || ||
Continuing Education - correct answer✔✔Every two years, 60 days before renewing their
|| || || || || || || || || || || ||
license, an adjuster must must have completed 20 hours of Continuing Education.
|| || || || || || || || || || ||
Disciplinary Actions - correct answer✔✔Cease and Desist Order || || || || || || ||
Suspension or Revocation || || ||
Penalties and Fines || ||
Cease and Desist Order - correct answer✔✔the Commissioner may issue and serve upon
|| || || || || || || || || || || || ||
that person a statement of the charges and a notice of a hearing to be held.
|| || || || || || || || || || || || || || ||
,Notice must be given at least 10 days before the hearing date.
|| || || || || || || || || || ||
After the hearing, if the Commissioner finds the the adjuster's acts and practices to be in
|| || || || || || || || || || || || || || || ||
violation of the law, he will issue a cease and desist order to stop the the method of the
|| || || || || || || || || || || || || || || || || || ||
adjusters competition, act or practice. || || || ||
Penalty for Violating Cease and Desist Order - correct answer✔✔If any person violates a
|| || || || || || || || || || || || || ||
cease and desist || ||
order issued by the Commissioner, he may suspend, revoke, or refuse to renew the license
|| || || || || || || || || || || || || || ||
of that person.
|| ||
The Commissioner may also impose an administrative penalty of up to $2,500 for
|| || || || || || || || || || || ||
each method of competition, act, or practice found to be in violation.
|| || || || || || || || || || ||
Suspension or Revocation - correct answer✔✔After the hearing, the Commissioner may
|| || || || || || || || || || ||
suspend or revoke the adjuster's license or subject him to an administrative fine not to
|| || || || || || || || || || || || || ||
exceed $2,500. ||
The aggrieved may appeal in accordance with state code.
|| || || || || || || ||
Penalties and Fines - correct answer✔✔If an adjuster misrepresents his identity he will
|| || || || || || || || || || || ||
be guilty of a misdemeanor if a natural person, or guilty of a felony if any other person;
|| || || || || || || || || || || || || || || || ||
and
be subject to suspension or revocation of his license and a fine not to exceed $2,500 for
|| || || || || || || || || || || || || || || ||
each violation. ||
, Unfair Claim Settlement Practices by Insurers - correct answer✔✔Misrepresenting
|| || || || || || || || ||
pertinent facts related to coverage || || || ||
Failing to acknowledge and act promptly when a claim arrises.
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Failing to implement reasonable standards when promptly investigating a claim.
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Failing to affirm or deny coverage within a reasonable time after proof of loss was
|| || || || || || || || || || || || || || ||
submitted.
Failure of an insurer to maintain a complete record of all complaints which it has
|| || || || || || || || || || || || || ||
received, whether or not they were deemed valid
|| || || || || || ||
Knowingly underestimating the value of any claim by an insurer or by an adjuster
|| || || || || || || || || || || || ||
representing the insurer. || ||
Adjustment and Payment of Loss - correct answer✔✔The company shall begin the
|| || || || || || || || || || || ||
adjustment of the loss within 15 days after receipt of notice of
|| || || || || || || || || || ||
loss. The amount of loss under a fire insurance policy shall be due and payable in 60 days
|| || || || || || || || || || || || || || || || ||
after receipt
||
Rebuilding - correct answer✔✔f the company decides to rebuild or repair the property
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destroyed or injured, it shall begin to || || || || || ||
do so within 20 days after adjusting the loss.
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Neglect of Insurer - correct answer✔✔If the company neglects to adjust the loss within 15
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days after receiving notice of it, or to begin
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