NY Independent General Adjuster Supplement Questions and Answers |100% Pass
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NY Independent General Adjuster Supplement Questions and Answers |100% Pass
How often must NY insurers be examined? {{Correct Ans- Every 5 years
How often may the Superintendent examine NY insurers? {{Correct Ans- As often as he/she deems necessary
Time by which insurer must respond to Superintendent requests for information? {{Correct Ans- 15 business days
How much is the Superintendent authorized, after notice and hearing, to levy a civil penalty for? {{Correct Ans- Up to $500/day, not to exceed 10K
After 5 separate penalties levied within 5 years, what can the Superintendent levy in addition, after notice and hearing? {{Correct Ans- A penalty up to $50K, for every 5 subsequent violations within 5 years
What may a licensed insurer do in lieu of payment of civil penalties? {{Correct Ans- Surrender their license
How many days’ notice of a hearing must the Superintendent give, and how?
{{Correct Ans- 10 days, in writing
How long does an individual have to pay a civil penalty, before it is entered as a judgment, and enforced without court proceedings? {{Correct Ans- 120 days
What is the maximum recovery fee a public adjuster can charge as compensation? {{Correct Ans- 12.5% of the recovery
How long does the insured have to cancel their agreement with a public adjuster? {{Correct Ans- Until midnight of the 3rd business day after signing
How long does a public adjuster have to retain their records? {{Correct Ans- 3 years from completion of the services rendered
[Solved] NY Independent General Adjuster Supplement Questions and Answers |100% Pass
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- Submitted On 09 Mar, 2023 01:44:40
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