Chapter 17 Alabama Property Casualty Insurance Law Questions and Answersperfect guide for your final
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Course
NURSING 706
Institution
NURSING 706
Chapter 17: Alabama Property & Casualty Insurance Law| 2022/2023 Questions and Answers;(perfect guide for your final)
Binders (27-14-18)
In the state of Alabama, how long are binders valid?
In the state of Alabama, if a policy has not been issued within 90 days, can a Binder be extended or renew...
Chapter 17: Alabama Property & Casualty
Insurance Law| 2022/2023 Questions and
Answers;(perfect guide for your final)
1). Binders (27-14-18)
Ans: A binder is an instrument designed to provide immediate, temporary insurance
coverage. Binders can be either written or oral.
2). In the state of alabama, how long are binders valid?
Ans: 90 days or until a policy is issued. Whichever is less
3). In the state of alabama, if a policy has not been issued within 90 days, can a binder be
extended or renewed?
Ans: Yes. If a policy has not been issued within 90 days, a Binder may be extended or
renewed with the approval of the Commissioner
4). Adjusters
Ans: An Adjuster is a person who is contracted by an insurance company to investigate
and negotiate claims.
5). Under alabama law, can a licensed attorney or employees of an insurance company be
considered adjusters under the adjuster definition.
Ans: No
6). Is holding a license necessary in order for a person to be an adjuster?
Ans: Yes. A person must not act as an Adjuster without holding an Adjusters License.
7). The alabama department of insurance commissioner can issue an adjuster license to a
person (individual or business entity) who completes the required application and meets
what requirements?
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, Ans: Applicants must be:
-19 years or older
-A resident of Alabama or a resident of another state that permits Alabama residents to
act as Adjusters
-A full-time salaried employee of a licensed Adjuster, or must have loss claim education or
training, or be a graduate of a recognized law school
-Trustworthy and of good character
8). Nonresident adjusters exemption- an adjusters license is not required if:
Ans: -An individual is sent to AL on behalf of an insurer to adjust unique or unusual
losses or a series of losses in connection with a common catastrophe
-An individual is a licensed agent of an Authorized Alabama insurance company and is not
paid retrospective compensation
9). How long does an adjusters license remain in effect, and how is it renewed?
Ans: An adjusters license will remain in effect for 2 years unless otherwise revoked or
suspended. To maintain the license, Adjusters must request renewal (continuation) in
writing and pay the required annual fee.
10). Who has the authority to revoke, suspend (for 12 months), or refuse to continue an
adjuster's license?
Ans: The Commissioner
11). In order for the commissioner to revoke, suspend (for 12 months), or refuse to continue an
adjuster's license, what must happen?
Ans: Such action will only be taken after a hearing has been held and if the
Commissioner finds that the Adjuster has:
-Attempted to fraudulently obtain a license
-Violated a state insurance law
-Been convicted of a felony involving moral turpitude
-Stolen money or property from clients and customers
-Proven to be incompetent or untrustworthy
-Committed a past act that had the Commissioner been aware of it would have caused
him to deny the license
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