Errors & Omission (E&O) Insurance

E&O Insurance

NO FREE INSURANCE

Name Filing Requirements

Names that CANNOT be disapproved

ACCEPTABLE CHOISES for when an agent wants to attach a corporations name on stationery or advertisements

Changes of address on file including EMAIL, RESIDENCE, BUSINESS, MAILING must be reported to DOI

Upon receipt of a written demand, Original or Certified copy must be turned in to DOI within 30 days.

Records SHALL BE AVAILABLE for inspection or examination by the commissioner AT ALL TIMES.

Records of policy delivery must be kept for 5 YEARS.

Required Life & Disability Records

A Conviction following a Nolo Contendere plea is still deemed to be a conviction.

Restricted License

Permanent License

Reason to be Denied License with RIGHT TO A HEARING

Denial of License WITHOUT right to a hearing

Nolo Cotondere

Appoint

Notice of Appointment

Insurance Agents

F&C Broker-Agent can either be Broker/Agent, he is acting as an insurance agent NOT as a broker to the insurers for whom he has been appointed with.

Life Only Agent

Class of Disability

An Accident & Health Broker-Agent must be appointed prior to selling disability products on behalf of disability insurer.

Disability products can only be sold by agents.

F&C Broker-Agent cannot sell disability products as a broker.

Implied Declaration

Appointment Termination

Inactive License

Reasons for Denial of License but WITH RIGHT TO A HEARING

Convicted of a crime=Not proved Guilty but pleaded Nolo Contendere

Charged for a crime= Proved Guilty