Insurance Regulation Scavenger Hunt

 

The purpose of this activity is not just to find information online but to discover intricacies that insurers, agents, and others face with insurance regulation.

The two sites where you will need to find information will be www.tdi.texas.gov Texas Department of Insurance www.naic.org National Association of Insurance Commissioners

 

1)              Texas Workers Compensation Self Insurance Group Requirements (6 points)

1. What is the TDI definition of a self Insurance Group
2. What are the minimum number of employers to form a WC self insurance group?
3. What are the security requirements for such a group?
4. What are the fidelity bond requirements for such a group? (what is a fidelity bond?)
5. What is a requirement if the group hires a service company to pay claims, ?

2)              Windstorm Inspection and windstorm insurance (TWIA – Texas Windstorm Insurance Association) (6 points)

1. What are the fourteen counties in the 14 first tier counties (catastrophe area) for windstorm in Texas?

Aransas, Brazoria, Calhoun, Cameron, Chambers, Galveston, Jefferson, Kennedy, Kleberg, Matagorda, Nueces, Refugio, San Patricio, Willacy.

1. What are the minimum wind speed requirements for properties for TWIA windstorm insurance in each of the following areas:
   1. Inland II – 110 mph
   2. Inland I – 120 mph

• Seaward – 130 mph

1. When are over-water boat houses covered for TWIA windstorm insurance

3)              In order to properly classify insurance so that data is recorded properly, the NAIC has developed a Uniform Property & Casualty Product Coding Matrix. Answer these questions associated with this uniform code (do not use general knowledge or other resources) (6 points)

1. What is the difference between ‘ farmowners’ and ‘ commercial farm and ranch’
2. What is a DIC policy
3. What is the difference between a medical malpractice ‘ occurrence’ and ‘ claims made policy’
4. How does ‘ alternative workers compensation’ differ from ‘ workers compensation’

4)              The (NIPR) National Insurance Producer Registry (NAIC) (6 points)

1. Summarize what is the producer database
2. Who manages the NIPR
3. When was the NIPR established
4. Does the NIPR ask agents to provide social security numbers

5)              Texas Claims Adjuster Licensing (6 points)

1. What are the two ways a person can qualify for an adjuster’ s license

• Successfully completing a TDI certified course and approved final exam
• By passing the Pearson VUE exam.
  1. Can a person fax a license application? NO
  2. What is the fingerprint requirement? You must have a fingerprint receipt if you do not do the Pearson VUE rxam.
  3. What are the two designation exemptions that waive an examination for a property-

casualty adjuster’ s license