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TN General Ins. Laws

TN Accident & Health (General Insurance laws)

The Govenor In the state of Tennessee, who appoints the Commissioner?
Legislators (The Commissioner does not make the laws, he/she only ENFORCES the laws) Who MAKES the laws?
For as long as appointed by the Governor. (The Governor serves for 4 years) How long does the Commissioner serve?
The Commissioner Who approves the rates, but does NOT SET them?
1.) Place the producer on probation 2.) Suspend, revoke, or refuse to issue or renew the producers license and/or 3.) Assess a civil penalty When an insurance producer violates the Tennessee Insurance Law or any rule or regulation of the Commissioner, the commissioner may....
30 Days When the Commissioner denies an application for a license, he or she must notify the applicant in writing within how many days?
NO Can the Commissioner send you to jail?
YES Can the Commissioner subpoena witnesses and examine them under oath?
Insurance Producer A person required to be licensed in Tennessee to sell, solicit, or negotiate insurance.....
Business Entity A corporation, association, partnership, limited liability partnership, or other legal ENTITY.....
Limited Lines Producer A person authorized by the Commissioner to sell, solicit, or negotiate Crop Hail, Title, Credit Life, Mortgage Guaranty Insurances, etc....
Unauthorized Insurer Anyone who sells insurance for or on behalf of an insurance company NOT authorized to business in the state....
1.) Be atleast 18 years of age 2.) Not have committed an act that is grounds for license denial, suspension, or revocation 3.) Completed the Pre-licensing course 4.) Paid the appropriate fees 5.) Passed the exam When applying for an insurance producer license in Tennessee, the following requirements must be met......
30 Days When an insurer terminates an agent's appointment, the insurer must notify the Commissioner within how many days of termination?
1.) Good standing in their home state 2.) Submitted proper request & paid applicable fees 3.) Submitted a complete uniform application 4.) Home state awards insurance producer licenses to residents of Tennessee on the same basis In Tennessee, a nonresident may receive an insurance producer license if......
30 Days A nonresident producer who moves from one state to another, or a resident producer who moves from Tennessee to another state, must file a change of address within how many days? (No fee is required)
180 Days How long is a Temporary License active?
1.) To a surviving spouse or court-appointed personal representative, to a member or employee of a business entity upon the death or disability of an individual designated in the license application, or the designee of someone entering the military A Temporary license may be issued without an examination, due to the following cases...
90 Days A person licensed as an insurance producer in another state who moves to Tennessee must make application within how many days of establishing legal residence?
20 How many total hours for producer prelicensing education are required for Accident & Health?
20 How many total hours for producer prelicensing education are required for Life Insurance?
1.) A completed application 2.) Proof of passing the required written prelicensing exam 3.) The proper filing fee What must an applicant for an insurance producer license submit to the Commissioner?
2 years from the last day of the licensee's birth month. How long does an individual producer license remain in effect?
1.) Paying the applicable fee 2.) Submitting the renewal form and 3.) Having completed all continuing education requirements At the end of 2 years, an insurance producer license may be renewed by.....
Biennially (Every 2 years) on March 1 How often do Business Entity licenses expire?
Yes, but the unpaid renewal fee is doubled. Can an insurance producer who allows a license to lapse within 12 months reinstate the license without passing a written exam?
30 Days Within how many days must a licensed producer inform the Commissioner of an address change?
Biennially Every 2 years
Biannually Twice a year
NO Do insurance producers who have been continuously licensed since January 1, 1994 have to take continuing education requirements?
24 credit hours (with 3 hours of ethics) every 2 years by the last day of the producers birth month. How many credit hours of continuing education must Tennessee insurance producers complete?
Yes. 12 credit hours can be carried over with the exception of ethics. Can continuing education credit hours be carried over?
Created by: Tiphanie_Dyme
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