RMIN 4000 Test 2 Daniel Brown Questions and Answers 100% Correct
4 views 0 purchase
Course
RMIN 4000
Institution
RMIN 4000
Stock Insurer - ANSWER-Corporation owned by Stockholders (earn profit for stockholders by
increasing the value of the stock and paying dividends).
Mutual Insurer - ANSWER-Corporation owned by Policyholders (profits are distributed to policyholders
by dividends or rate reductions).
Advance P...
RMIN 4000 Test 2 Daniel Brown Questions and Answers 100% Correct
Stock Insurer - ANSWER-Corporation owned by Stockholders (earn profit for stockholders by increasing the value of the stock and paying dividends).
Mutual Insurer - ANSWER-Corporation owned by Policyholders (profits are distributed to policyholders
by dividends or rate reductions). Advance Premium Mutual Assessment Mutual Fraternal Insurer
Lloyd's of London - ANSWER-Specialized lines of business.
Brokers - ANSWER-represent policyholders to arrange coverage with syndicates. Legally represents insured.
Syndicates - ANSWER-Offer insurance contracts in the market.
Managing Agents - ANSWER-Manage the syndicates, who typically specialize in certain
lines.
Underwriters - ANSWER-Work for the syndicates to assess risks and determine premiums.
Insurance Agent - ANSWER-Someone who legally represents the principal (insurance company) and has the authority to act on the principal's behalf (Company's Legal Representative).
Insurance Binders - ANSWER-Provide temporary insurance until the policy is actually written.
Surplus Lines Broker - ANSWER-Licensed to place business with a nonadmitted insurer.
Surplus Lines - ANSWER-Refer to any type of insurance for which there is no available market in the state.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller nursingismylife. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.