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Watercraft liability, medical expenses and uninsured boaters are coverages provided under which of the following policies? I. Watercraft. II. Homeowners. III. Mariners. - I only is correct. Explanation: Watercraft policies are designed to cover boats used primarily on fresh water streams ...
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Add to cartWatercraft liability, medical expenses and uninsured boaters are coverages provided under which of the following policies? I. Watercraft. II. Homeowners. III. Mariners. - I only is correct. Explanation: Watercraft policies are designed to cover boats used primarily on fresh water streams ...
Describe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. - This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a license from the state. When he continued to sell insurance w/o ...
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Add to cartDescribe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. - This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a license from the state. When he continued to sell insurance w/o ...
Terrorism Risk Insurance Act (TRIA) - In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it happen - In 2005 legislation was modified and cover...
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Add to cartTerrorism Risk Insurance Act (TRIA) - In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it happen - In 2005 legislation was modified and cover...
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Insurance - Transfer of risk from one person or organization to an insurance company Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate prem...
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Add to cartInsurance - Transfer of risk from one person or organization to an insurance company Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate prem...
Perils - Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) Hazard - Condition that create or increases the chance or loss or contributes to the loss Physical Hazard - Visible ( operational features of a risk) Moral Hazard - Intentional dis...
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Add to cartPerils - Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) Hazard - Condition that create or increases the chance or loss or contributes to the loss Physical Hazard - Visible ( operational features of a risk) Moral Hazard - Intentional dis...
What type of reinsurance contract involves two companies automatically sharing their risk exposure? - treaty A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - risk retention group What is the name of the law that requires ins...
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Add to cartWhat type of reinsurance contract involves two companies automatically sharing their risk exposure? - treaty A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - risk retention group What is the name of the law that requires ins...
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