General WI Insurance Laws Flashcards
(62 cards)
The Commissioner of Insurance must examine domestic insurers and licensed rate service organizations every _____ years
5 years
To request a hearing after an order is issued without one must be done within _____ days
30 days
____ - _____ days for Commissioner to give hearing after a request
10-60 days
_____ days for an aggrieved person to request a re-hearing
20 days
_____ days for Commissioner to act on a petition before it is considered denied
20 days
_____ weeks to comply with an order before a penalty is issued
2 weeks
Minimum age to apply for insurance license
18
____ hours required pre-licensing education
20
Maximum period for a temporary license
1 year
____ days appointments are effective prior to being entered in the licensing system
15 days
____ days to notify agent of termination of appointment
15 days
____ days to notify Commissioner of termination of appointment
30 days
____ months no pre-licensing education required if license held in another state for the same line of authority
12 months
___ years minimum time to keep records
3 years
____ days to notify the Commissioner of a change of address
30 days
____ days to report a change in intermediary status or felony or misdemeanor conviction
30 days
____ years maximum imprisonment for person violating Insurance Code
3 1/2 years
____ hours Continuing Education required every 2 years
24 hours
____ hours of CE credits must be in an Ethics course
3 hours
_____ years, Length of time agents must keep records of CE completion
4 years
____ years, Length of time before person whose license has been revoked can reapply
5 years
____ working days, Length of time after receipt of request, for insurer to supply insured with a copy of the application
15 working days
____ days, Length of time required for advance notice to the policyholder for midterm policy cancellation.
10 days
____ days, Length of time for notice to insured when canceling a policy in effect for more than 1 year
60 days
