Florida Statutes Word Scramble

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Question	Answer
McCarran-Ferguson Act	Made the business of insurance state regulated in 1945
Union Plans	can be an exception to the MEWA if US department of labor makes express finding if no express finding by the US DOL then is subject to state regulations
Association Plans	These plans are not exempt from state regulations
PEO Professional Employer Organization	sponsored health plans not exempt from state regulation
third degree felony, liability of unpaid claims, suspension or revocation of all insurance liscenses	Possible Consequences for aiding and abetting an Unauthorized Insurer and acting as one
Temporary Licensing	up to 6 months to an employee, family member, business associate, or personal representative for the purpose of continuing or winding the business affairs of a an agent in the event the agent dies or is otherwise unable to perform his or her duties.
License and appointment	cannot hold themselves to be an agent customer rep or adjuster without properly being licensed and appointed
$10,000	if an agency is required to be licensed but fails to file for application
$5,000	if the agency is eligble for registration but fails to register
3 years	an agency license is issued for a period of
3 years	every licensee shall keep books accounts and records pertaining to a premium payment for atleast 3 years after payment
Outside the office of his or her agency	a customer representative shall not engage in transacting insurance outside of the office of his or her agency
Only with 220 agents	who can a 2-20 agent share his commission with
Misrepresentation	knowingly making untrue statements in an insurance application so that a benefit can be gained
defamation	to injure a person by libel or slander
sliding	telling the insured that additional coverage is required by law when purchasing auto insurance or including the additional coverage without the insured knowing.
twisting	tricking the insured or prospect so that they will change their policy to another insured.
Advertising gifts permitted	giving a prospect or insured mercandise for the purpose of advertising with a value of $25 or less
"stock insurer"	an incorporated insurer without permanent capital divided into shares and owned by stockholders
Mutual Insurer	an incorporated insurer without permanent capital stock ther governing body of which is elected in accordance with this part.
Appointment of Customer REp	cannot work for more than one agency at a time/ shall prescribe by rule forms to administer this section
Surplus Lines Agent	individual licensed to handle placement of insurance coverages with unauthorized insurers and to place coverage with authorized insurers as to which the licensee is not licensed to the agent.
Eligible Surplus Lines Insurer	unauthorized insurer which has been made eligible by the office to issue incurance under the surplus lines law
To Export	to place in an unauthorized insurer, insurance, covering a subject of insurance resident located or to be perforned in the states
Dilligent Effort

Created by: Giants3172