Idaho Portion – Insurance (100% verified)

Insurance Transaction correct answers Solicitation, negotiations, sale, advising an individual concerning coverage or claims negotiation correct answers offer advice/communicate directly with purchaser regarding benefits Sale correct answers effectuation of a contract of insurance Insurance Contract correct answers Agreement between the insured and insurer, where the insurer agrees to indemnify the insured for specific losses in exchange for a premium stock companies correct answers owned by stockholders (can profit) mutual companies correct answers owned by policyholders Fraternal correct answers provide insurance for members of religious or fraternal organization Certificate of Authority correct answers license granted to insurers so that they may transact business in the state Director correct answers Appointed by the Governor Serves 4 years with 5 years prior experience Duties of Director correct answers enforce idaho insurance codes make reasonable rules and regs issues licenses and certificates of authority issues orders and notices conduct examinations and investigations collect all required fees provide annual reports to the governor authorize publications and sale of copies of Idaho Ins. laws, rules, regs Director examination correct answers subpoena witnesses administer oaths examine and cross examine witnesses Recieve oral and documentary evidence Examination correct answers only effective when in writing and signed, hearing must be held within 30 days of request, director must give notice 14 days in advance Limited Lines Producer correct answers sells, solicits, and negotiates limited lines insurance Credit life credit disability credit property credit unemployment