100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AIC 30 QUESTIONS AND CORRECT ANSWERS | LATEST UPDATE $13.09
Add to cart
Quickly navigate to
Preview
  2.  
  3. AIC
  4.  
  5. AIC

Exam (elaborations)

AIC 30 QUESTIONS AND CORRECT ANSWERS | LATEST UPDATE
 0 purchase
  • Course
  • AIC
  • Institution
  • AIC

First Party Focus -:- Coverage and Amount of damage Second Party -:- Insurance Company First Party -:- Insured Third Party -:- Claimant Third Party Focus -:- Liability, Coverage, and Amount of damage 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 2 0 2 4 /2025 | © copyright | T...

[Show more]

Preview 4 out of 35  pages

Document information

  • September 17, 2024
  • 35
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • aic 30 questions and correct answers latest upd
  • first party focus coverage and amount of dam

Written for

  • AIC
  • AIC

Seller

avatar-seller
TestTrackers

Reviews received

Content preview

2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




AIC 30 QUESTIONS AND CORRECT
ANSWERS | LATEST UPDATE
First Party Focus


✓ -:- Coverage and Amount of damage




Second Party


✓ -:- Insurance Company




First Party


✓ -:- Insured




Third Party


✓ -:- Claimant




Third Party Focus


✓ -:- Liability, Coverage, and Amount of damage




1|P a g e | G r a d e A + | 2 0 2 0 2 5

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




Third Party Administrator (TPA)


✓ -:- an organization that provides admin services associated with risk

financing and insurance. They handle claims and risk management for self -

insured organizations




Independent Adjuster


✓ -:- handles claims for the insurer for a fee. Works for the insurer




Public Adjuster


✓ -:- an outside organization that is hired by the insured to represent the

insured in the claim for a fee. Works for the public




Quantitative Measures


✓ -:- can have actual numbers assigned, such as number of claims opened

and percentage of subrogation recovery




Qualitative Measures




2|P a g e | G r a d e A + | 2 0 2 0 2 5

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




✓ -:- related to intangible measures. nothing concrete, did they do a good

job? do they have good negotiation skills?




Ethics


✓ -:- the study of what constitutes good and bad behavior, dealing with

the moral duty and obligation




Conflict of Interest


✓ -:- a situation that occurs when a decision makers personal interests

interfere to the extent that he/she makes decisions that adversely affect

the customer, claimant, or employer




Ex Parte Contract


✓ -:- contracts in which only 1 party is heard. discussing the c laim with

the represented person without benefit of their attorney being involved.

this is not illegal, but its not ethical.




Fraud




3|P a g e | G r a d e A + | 2 0 2 0 2 5

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




✓ -:- an intentional misrepresentation resulting in harm to another person

or organization




Code of Ethics


✓ -:- professional guidelines of behavior within an organization or

profession




N.A.I.C


✓ -:- The National Association of Insurance Commissioners




Model Laws


✓ -:- NAIC develops that they feel is an appropriate law related to

insurance/risk management




Model Laws - Goal


✓ -:- to standardize the laws related to insurance, to address issues

related to insurance




4|P a g e | G r a d e A + | 2 0 2 0 2 5

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 TestTrackers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.09. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69052 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$13.09
  • (0)
Add to cart
Added