Which one (1) of the following practices is NOT considered to be "misconduct"? OA) The use of an illustration circular or memorandum that is incomplete and does not clearly represent the terms, benefits or advantages of any policy. OB) The use of any incomplete comparison of any policy or contract of the insurance with that of another insurer for the purpose of inducing an insured to lapse, forfeit or surrender a policy or contract. OC) Quoting an insurance premium to a policy holder or prospective policy holder that is less than a competitor's quotation with the intention of influencing the placing of an insurance policy or renewal. OD) Holding himself/herself out, or advertising, or carrying on business in any other manner than the name in which the firm is registered.
Which one (1) of the following practices is NOT considered to be "misconduct"? OA) The use of an illustration circular or memorandum that is incomplete and does not clearly represent the terms, benefits or advantages of any policy. OB) The use of any incomplete comparison of any policy or contract of the insurance with that of another insurer for the purpose of inducing an insured to lapse, forfeit or surrender a policy or contract. OC) Quoting an insurance premium to a policy holder or prospective policy holder that is less than a competitor's quotation with the intention of influencing the placing of an insurance policy or renewal. OD) Holding himself/herself out, or advertising, or carrying on business in any other manner than the name in which the firm is registered.
Related questions
Question
Pls help ASAP on this question (58)
Transcribed Image Text:Which one (1) of the following practices is NOT considered to be "misconduct"?
OA) The use of an illustration circular or memorandum that is incomplete and does not clearly represent the terms,
benefits or advantages of any policy.
OB) The use of any incomplete comparison of any policy or contract of the insurance with that of another insurer
for the purpose of inducing an insured to lapse, forfeit or surrender a policy or contract.
OC) Quoting an insurance premium to a policy holder or prospective policy holder that is less than a competitor's
quotation with the intention of influencing the placing of an insurance policy or renewal.
OD) Holding himself/herself out, or advertising, or carrying on business in any other manner than the name in
which the firm is registered.
Expert Solution
Step 1: Define background related to insurance
There are several risks that occur and that can influence the practices and working of the organization. It is important to deal with the risk in an effective manner so that the negative consequences of such risks can be reduced. Insurance is one of the medium that helps in the protection against the possibility of occurrence of some uncertain event. Insurance companies provide several types of insurance to the customers. Customers are required to pay insurance premium in order to avail such services. It is a kind of risk management that helps in protection in case of contingent events.
Step by step
Solved in 3 steps
