CT Adjusters Exam - Chapter 12 Review Questions with Answers

Casualty Adjuster Any person, legal entity, or business that investigates claims and negotiates settlements -Connecitcut does not require licensing for anyone adjusting fire, life or accident/health; property damage exceeding $1,500; or anyone engaged in the general practice of law Impersonation A monetary fine for this act is *no more than $4000*, prison up to *6 months*, or both License Fee $80 plus a $50 filing fee Term of License Expire on *June 30th* of every *odd* number year Renewal The license will remain in effect for another *2 years* -The license exam may be waived by the Commissioner if the applicant holds a like license in his or her state Anyone acting as an adjuster without the proper license may be fined up to *$2,000, recieve a prison sentence for one year, or both* Changes in Name, Address, or Licensee Status Notice of any changes must be provided within *30 days* to the Commissioner - crime and bankruptcy must also be reported *Violating this regulation will result in a fine of $100* Reporting Actions A producer must report to the Commissioner any administrative action against him or her by another state/government agency *within 30 days of the final diposition*. Assumed Names No indiviaul or business entity is permitted to advertise or conduct insurance transactions under any name NOT on the file. -Must notify Commisioner *prior to using it* Public Adjuster Any person, legal entity, or business that works on behalf of the insured *do not dicuss coverage*