What class of insurance is exempt from the CIGA
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Life and Annuity
Under the CIC, if a person refuses to submit books and records to the commissioner
they would be guilty of a:
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Misdemeanor
,Insurance Broker
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-Represent an insured
-Represents and insurer
-Charges a fee to be insured
Which policy pays a death benefit when the second insure person dies?
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Survivorship Life
Participants in a managed care indemnity plan:
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Select a provider and submits claims to the insurer
In order to determine the importance of a representation, which rule is applied:
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The materiality of concealment
,Who receives certificates of insurance in a group policy?
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Employees
An insurer who provides for all its liabilities and purchases reinsurance on all of its
outstanding risks is considered to be:
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An Insolvent Insurer - and insurer who does not have the funds to meet all
of the financial obligations it is contracted to meet
A person found guilty of a violation of the federal law regulating issues that effect the
insurance industry and interstate commerce can be subject to a civil penalty of:
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$50,000
Mutual Insurer
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, -Owned by policyholders
-Issues participating policies
-Must pay out dividends at minimum annually
Coordination of Benefits
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-Provision that applies in group insurance when an insured has coverage
under multiple plans at one time.
-Coordination of benefits is included in all group health insurance policies
in order to reinforce the principle of indemnity and determine which
coverage is primary, which is the coverage the insured has where they
work.
Utmost Good Faith
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-Allows each party to rely on the representation made by other party
Hospital Confinement Policy
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-Pays a set amount per day if the insured in confined in the hospital.
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Life and Annuity
Under the CIC, if a person refuses to submit books and records to the commissioner
they would be guilty of a:
Give this one a try later!
Misdemeanor
,Insurance Broker
Give this one a try later!
-Represent an insured
-Represents and insurer
-Charges a fee to be insured
Which policy pays a death benefit when the second insure person dies?
Give this one a try later!
Survivorship Life
Participants in a managed care indemnity plan:
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Select a provider and submits claims to the insurer
In order to determine the importance of a representation, which rule is applied:
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The materiality of concealment
,Who receives certificates of insurance in a group policy?
Give this one a try later!
Employees
An insurer who provides for all its liabilities and purchases reinsurance on all of its
outstanding risks is considered to be:
Give this one a try later!
An Insolvent Insurer - and insurer who does not have the funds to meet all
of the financial obligations it is contracted to meet
A person found guilty of a violation of the federal law regulating issues that effect the
insurance industry and interstate commerce can be subject to a civil penalty of:
Give this one a try later!
$50,000
Mutual Insurer
Give this one a try later!
, -Owned by policyholders
-Issues participating policies
-Must pay out dividends at minimum annually
Coordination of Benefits
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-Provision that applies in group insurance when an insured has coverage
under multiple plans at one time.
-Coordination of benefits is included in all group health insurance policies
in order to reinforce the principle of indemnity and determine which
coverage is primary, which is the coverage the insured has where they
work.
Utmost Good Faith
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-Allows each party to rely on the representation made by other party
Hospital Confinement Policy
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-Pays a set amount per day if the insured in confined in the hospital.
