Health Chapter 8 Indiana Laws & Rules Pertinent to Insurance Study Guide Exam And Actual Answers.

In order to conduct business in Indiana, admitted Insurance Companies must have a Certificate of Insurance Certificate of Authority Business Entity license Domestic Insurer license - Answer Insurance Companies admitted to do business in Indiana must have a Certificate of Authority. Which of these statements regarding licensed Indiana Insurance Consultants is true? Must hold meetings with clients in an approved facility Can also be licensed as an Insurance Producer Commissions are split with licensed Producers Insurance advice is sold for a fee - Answer A licensed Indiana Insurance Consultant sells insurance advice for a fee. Which statement regarding Indiana Limited Lines licenses is true? Can be under the age of 18 Pre-license education is not a requirement Continuing education requirements are less than the continuing education requirements for a Resident Producer's license An exam is not required - Answer The correct answer is "Continuing education requirements are less than the continuing education requirements for a Resident Producer's license". Under Indiana's Unfair Claims Settlement laws, which of these activities by an Insurance Company is considered illegal? Leave the insured no choice but to sue the Insurance Company to settle a claim Promptly pay a claim