Arkansas Property and Casualty Exam with complete solutions

Arkansas Property and Casualty ExamNationwide marine insurance - correct answer . All property must contain an element of transportation to be eligible under inland marine coverage forms. Specifically, it must be in transit, be moveable, bear a relationship to transportation or communication, or be held in the possession of a bailee, who is someone other than the property owner. The Nationwide Marine Definition defines 6 broad classes of property that may be insured under marine contracts. The 6 classes are: - correct answer Imports Exports Domestic Shipments and property in transit Instrumentalities of Transportation or Communication Personal Property Floaters Commercial property floater Risks Exclusions of inland marine policies include: - correct answer Governmental action War and nuclear hazard Consequential loss Dishonest and criminal acts of an insured Weather conditions Acts and decisions Controlled Lines of Coverage (Filed Lines) - correct answer filed lines, are those that use policy forms, endorsements, and rates that are filed by insurers with the departments of insurance in each of the