Ch.18 Michigan Laws and Rules Pertinent to Insurance Questions and Answers Already Passed

Ch.18 Michigan Laws and Rules Pertinent to Insurance Questions and Answers Already Passed The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as twisting subrogation a life settlement coercion Twisting Providing incorrect, misleading, incomplete, or materially untrue information in the license application is forgery coercion embezzlement misrepresentation Misrepresentation In the Michigan Insurance Code, Chapter 45, insurance fraud defines financial loss as all of the following EXCEPT loss of earnings additional premiums out-of-pocket expenses repair and replacement costs additional premiums Which of the following is REQUIRED to be licensed as an insurance producer? An underwriter of an insurer An administrator of a group plan A business entity soliciting insurance An officer or director of a licensed insurer A business entity soliciting insurance The unfair trade practice of using threat or force to restrict fair trade in the transaction of insurance is called twisting defamation intimidation misrepresentation intimidation A producer's fiduciary responsibility includes which