Texas Adjuster License 2022/2023 Questions and Answers 100% Correct

Texas Department of Insurance - ANSWER-Governing body regulating insurance companies and personnel. Commissioner - ANSWER-The head of the state department of insurance. 2 years - ANSWER-Length of appointment for insurance commissioner. Line - ANSWER-The type of insurance Texas Governor - ANSWER-Appoints the commissioner. Property and Casualty Adjuster - ANSWER-Adjusts or supervises claims in all lines of P&C except workers' comp. Workers' Compensation Adjuster - ANSWER-Adjusts or supervises all workers' compensation claims. Staff Adjuster - ANSWER-Adjusters on the payroll of an insurance company; hourly or salary. Independent Adjuster - ANSWER-Paid fees to handle claims for one or more insurance companies. Public Adjuster - ANSWER-A person hired by the insured to settle the claim with the insurance company on their behalf. The commissioner audits insurance companies at least ___________ - ANSWER-Every five years Case Law - ANSWER-court decisions that establish precedent principles First Party - ANSWER-The insured. Second party - ANSWER-The insurer. third party - ANSWER-An party making a claim through an insured's liability coverage; not a party to the insurance contract. Indemnity - ANSWER-A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.