Code & Ethics Flashcards on G8: Insurers, created by Det Ferraris on 04/06/2013.
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Created by Det Ferraris
almost 11 years ago
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Close
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Created by Det Ferraris
almost 11 years ago
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Lloyds of London
Fraternal Insurer
Major Financial Reports that insures must report to DOI
Types of Permitted Investments by insurers.
Investment of Assets by Insurers
Any Person Capable of making a contract can be an insurer.
Admitted Insurer
Non-admitted Insurer
Admitted Insurer can transact any type of insurance for which it is AUTHORIZED by its Articles of Incorporation (Charter) and has received Certificate of Authority from DOI
Admitted Insurer can transact any type of insurance for which it is AUTHORIZED by its Articles of Incorporation (Charter) and has received Certificate of Authority from DOI
An insurer transacting Insurance without a Certificate of Authority can be fined up to $100K and/or up to 1 year in prison.
Prohibited acts by Agents with Non-Admitted Insurers
Domestic Insurer
Foreign Insurer
Alien Insurer
Demutualization (Conversion)
Insurance Companys' Operating Divisions
Reciprocal Exchange
Actuarial
Reinsurance
Reinsurance Benefits
