18-181A 18-181A . . . Insurance Agents Stock Option Plan under which Compensation Committee may grant Non-qualified Stock Options to any insurance agent who signs agreement which commits agent to produce at least $300,000 of premiums during specific three-year period ("Qualification Period"). Number of shares covered by option is equal to agent's premium commitment divided by $100, and options become exercisable only to extent agent satisfies his or her minimum commitment for premiums during Qualification Period, and only to extent loss ratios for insurance business written meet or exceed certain performance criteria
North Carolina Insurance Agents Stock option plan
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FAQ
A replacement occurs when a new policy or contract is purchased and, in connection with the sale, you discontinue making premium payments on the existing policy or contract, or an existing policy or contract is surrendered, forfeited, assigned to the replacing insurer, or otherwise terminated or used in a financed ...
A claims reserve is a reserve of money that is set aside by an insurance company in order to pay policyholders who have filed or are expected to file legitimate claims on their policies. Insurers use the fund to pay out incurred claims that have yet to be settled.
Any insurer authorized to transact business in NC may appoint as its agent any individual who: Holds a valid agents license issued by the commissioner. When an insurance producer conducts business under any name other than the producers legal name, he or she must: Notify the commissioner before using the assumed name.
(a) It is unlawful for any insurance company licensed and admitted to do business in this State to issue, sell, or dispose of any policy, contract, certificate, or certificate of insurance, or use applications in connection therewith, until the forms of the same have been submitted to and approved by the Commissioner, ...
Making or permitting any unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium, policy fees, or rates charged for any policy or contract of accident or health insurance or in the benefits payable thereunder, or in any of the terms or conditions of such ...
As its name indicates, the North Carolina Unfair and Deceptive Trade Practices Act (or ?UDTPA,? for short) prohibits businesses from engaging in unfair or deceptive acts or practices. Violating the UDTPA subjects a defendant to potential treble (triple) damages, costs, and attorney's fees.
The law is called the Unfair and Deceptive Trade Practices Act. An insurance company is guilty of unfair and deceptive trade practices if it harmed you by doing something that has tendency to deceive, that offends public policy, or that is immoral, unethical, oppressive, unscrupulous, or substantially hurts people.