Unit 21: Pennsylvania Laws and Regulations Common to Property and Casualty Insurance 2024 passed

Unit 21: Pennsylvania Laws and Regulations Common to Property and Casualty InsuranceC) Both of these - correct answer Which of the following could be paid an insurance commission or fee? A) Neither of these B) Lenny, a retired insurance producer who no longer maintains a license but whose book of business generates policy renewals C) Both of these D) Patricia, an employee benefits attorney who refers a business client to a producer specializing in group insurance ethical conduct - correct answer Under the law, ____ is generally defined as conduct that a reasonable person is expected to do under any circumstances. However, not all actions that are unethical (such as selling a prospect more life insurance than they can afford) are illegal. agency - correct answer The duties of an insurance producer to the insurer are established by the concept of ____. Compliance - correct answer _____ means conducting business in accordance with current rules and laws set by government regulatory agencies and the courts. - laws and regulations tell us what we must do Ethics - correct answer ____ are standards of conduct and moral judgment -what we should do - honest, integrity, loyalty, fairness, compassion, respect, personal responsibility, accountability