TX General Lines - Property and Casualty (Law and Regulations) Already Passed

TX General Lines - Property and Casualty (Law and Regulations) Already Passed Licensing Purpose ✔✔For the protection of the public of this state. Individuals must satisfy the following to be eligible to get a license: ✔✔-18 years of age or older -Resident of state -Passed exam and pay fees -Filed application and submitted a fingerprint card -Not license for the purpose of selling to themselves, family, or employees Refuse to issue any license if: ✔✔-Material misrepresentation or fraud in application -Record of dishonesty or misappropriation of customer funds -Is incompetent or lacks moral turpitude -Record of suspension or revocation in other jurisdiction -Convicted of felony Types of licenses: ✔✔-Agent -Adjuster -Surplus Lines Broker -Managing General Agent -Non-resident Agent -Temporary -Conditional Agent ✔✔An individual or business entity authorized by and insurer to solicit applications or to negotiate insurance on its behalf. Agents represent ✔✔the insurer, not the insured Adjuster ✔✔Any person who adjusts, investigates or negotiates settlement of claims arising under insurance contracts on behalf of the insurer or the insured. To be licensed as an adjuster: ✔✔-Must be at least 18 years old -Pass Texas Adjuster's examination Surplus Lines Broker ✔✔Any person who, as independent contractor, procures insurance on behalf of clients wth Surplus Lines insurers such as Lloyds of London. To obtain Surplus Lines Broker license: ✔✔-First hold a Property and Casualty Agent license Managing General Agent ✔✔A full time person who is responsible for recruiting and training a local insurance sales staff for either a L&H or P&C Non-resident Agent ✔✔Who do not have either a principal residence or place of business here. Can only have one. Temporary License ✔✔Commissioner may