A proposal for insurance that's presented to the underwriter for consideration. It can include an application, and additional verbal and written information (i.e., previous policy premium, loss details and history, financial statements and photos). - ANSWER"Submission."
1) Assists to identify lo...
A proposal for insurance that's presented to the underwriter for consideration. It can include an
application, and additional verbal and written information (i.e., previous policy premium, loss details
and history, financial statements and photos). - ANSWER"Submission."
1) Assists to identify loss exposures;
2) Helps eliminate purchase of coverage that isn't needed;
3) Assists in development of underwriting information the insurer needs. - ANSWERThree purposes
of survey forms.
1) Alerts broker to possible loss exposures;
2) Ensures needed coverages are not overlooked;
2) Helps reduce potential for an E&O claim. - ANSWERThree advantages of using a property checklist
with clients.
Frame. - ANSWERThe type of commercial building construction that's likely to produce the highest
insurance rate.
Fire resistive. - ANSWERThe type of commercial building construction that's likely to produce the
lowest insurance rate.
25 years or older. - ANSWERThe age a building has to be for an insurer to request information about
recent renovations or upgrading.
1) Roof;
2) Wiring;
3) Over-current protection;
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