Property & Casualty Insurance - Ohio
(Hondros CompuCram)
fraud - ✔️✔️false statement intended to deceive the insurer and
1) induce them to part with something of value OR 2) surrender a legal right.
May void policy
solicitor - ✔️✔️representative who helps an agent or broker solicit insurance and
collect premiums
may NOT bind or countersign policies
Insurance Director - ✔️✔️title for the head of the state dept. of Insurance
(also called Superintendent or Commissioner in some states)
Financial Responsibility Law - ✔️✔️Requires auto owners/operators to provide
evidence (proof of insurance) that they have funds to pay for auto losses
Fair Credit Reporting Act - ✔️✔️Allow consumers who are denied insurance due to
credit report info to be notified and obtain that information used in the report from the
reporting agency
Disciplinary Actions - ✔️✔️The process in which an Insurer may cancel any agent's
license by submitting written request to the Insurance Department.
As a disciplinary action, the Superintendent of Insurance may... - ✔️✔️1. refuse a
license applied for
2. revoke
3. suspend a license
if he feels the license is being used for the purpose of writing controlled business
(Hondros CompuCram)
fraud - ✔️✔️false statement intended to deceive the insurer and
1) induce them to part with something of value OR 2) surrender a legal right.
May void policy
solicitor - ✔️✔️representative who helps an agent or broker solicit insurance and
collect premiums
may NOT bind or countersign policies
Insurance Director - ✔️✔️title for the head of the state dept. of Insurance
(also called Superintendent or Commissioner in some states)
Financial Responsibility Law - ✔️✔️Requires auto owners/operators to provide
evidence (proof of insurance) that they have funds to pay for auto losses
Fair Credit Reporting Act - ✔️✔️Allow consumers who are denied insurance due to
credit report info to be notified and obtain that information used in the report from the
reporting agency
Disciplinary Actions - ✔️✔️The process in which an Insurer may cancel any agent's
license by submitting written request to the Insurance Department.
As a disciplinary action, the Superintendent of Insurance may... - ✔️✔️1. refuse a
license applied for
2. revoke
3. suspend a license
if he feels the license is being used for the purpose of writing controlled business
