Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart C - Agents and Brokers › Chapter 39a - EDUCATION AND TRAINING FOR APPLICANTS AND INSURANCE PRODUCERS › Section 39a.1 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this chapter,
					 have the following meanings, unless the context clearly indicates
					 otherwise:
Act
-The Insurance Department Act of 1921
					 (40
					 P. S. §§
											1-326.7).
Applicant
-An individual applying for an
					 insurance producer license.
Approved course
-An educational program
					 presented by means of classroom, Internet-based or correspondence study, and
					 certified by the Commissioner as meeting the education requirements of this
					 chapter.
Commissioner
-The Insurance Commissioner of
					 the Commonwealth.
Credit hour
-Fifty minutes of classroom
					 instruction or the equivalent thereof as determined by the Commissioner.
Department
-The Pennsylvania Insurance
					 Department.
Home state
-As defined in section 601-A of
					 the act (40 P. S. §
											310.1).
Instructor
-An individual responsible for
					 teaching an approved course.
Insurance producer
-A person licensed to
					 sell, solicit or negotiate insurance in accordance with the act.
License
-A document issued by the
					 Department authorizing the named recipient to conduct business as an insurance
					 producer in this Commonwealth.
License period
-The period of time from the
					 issue date to the expiration date stated on the license.
Nonresident insurance producer
-As defined
					 in section 601-A of the act.
Partnership policies
-Long-term care
					 insurance policies that satisfy the requirements in the Federal Deficit
					 Reduction Act of 2005 (42
					 U.S.C.A. §
											1396p).
Person
-
(i) An individual, corporation, association,
				  partnership, reciprocal exchange, inter-insurer, Lloyds insurer, fraternal
				  benefit society, beneficial association and any other legal entity engaged in
				  the business of insurance, including insurance producers and
				  adjusters.
(ii) The term also
				  includes health care plans as defined in 40 Pa.C.S. Chapters 61, 63, 65 and 67
				  and in the Health Maintenance Organization Act (40 P. S. §§
											1551-1568). For purposes of this chapter,
				  health care plans, fraternal benefit societies and beneficial societies shall
				  be deemed to be engaged in the business of insurance.
Preexamination education
-Education
					 required under section 604-A of the act (40 P. S. §
											310.4), regarding license
					 prerequisites.
Program administrator
-The person or entity
					 responsible for the administration of the education contract.
Resident insurance producer
-A licensed
					 insurance producer whose home state is this Commonwealth.
Sponsor
-A person offering or providing an
					 approved course.
Student
-An individual subject to the
					 preexamination education requirements of section 604-A of the act or a licensed
					 insurance producer subject to the continuing education requirements of section
					 608-A of the act (40 P. S. §
											310.8),
					 regarding license renewals.
Successfully complete
-To complete an
					 approved course for which a valid course completion certificate is
					 issued.