Personal Lines exam study prep (OH 11-43) Updated Questions with 100% Correct Answers | Latest & Verified

Domicile - CORRECT ANSWER-refers to the jurisdiction (i.e., state or country) where an insurer is formed or incorporated Domestic Insurer - CORRECT ANSWER-An insurer organized under the laws of this state, whether or not it is admitted to do business in this state. Foreign Insurer - CORRECT ANSWER-An insurer not organized under the laws of this state, but in one of the other states or jurisdictions within the United States, whether or not it is admitted to do business in the state or jurisdiction. Alien Insurer - CORRECT ANSWER-An insurer organized under the laws of any jurisdiction outside of the United States, whether or not it is admitted to do business in this state. Admitted (Authorized) Insurer - CORRECT ANSWER-is authorized by this State's Commissioner of Insurance to do business in this State. It has received a Certificate of Authority to do business in this State. Non-Admitted (Unauthorized) - CORRECT ANSWER-has either applied for authorization to do business in this state and was declined or they had not applied. Underwriting Department - CORRECT ANSWER-Responsible for the selection of risks and rating that determines actual policy premium Which insurance company department accepts the insurance risk? - CORRECT ANSWER-Underwriting Insurer (pri