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
INSR 310: TEST 3 || WITH 100% ERRORLESS SOLUTIONS. $11.69
Add to cart
Quickly navigate to
Preview
  2.  
  3. INSR 310:
  4.  
  5. INSR 310:

Exam (elaborations)

INSR 310: TEST 3 || WITH 100% ERRORLESS SOLUTIONS.
 0 purchase
  • Course
  • INSR 310:
  • Institution
  • INSR 310:

manuscript policy correct answers a policy that allows insurers to alter & change coverages according to each person standard policy correct answers a policy that does not change from contract to contract; same form for every person dec page correct answers the front page of a policy that spe...

[Show more]

Preview 2 out of 12  pages

Document information

  • October 28, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • INSR 310:
  • INSR 310:

Seller

avatar-seller
FullyFocus

Reviews received

Content preview

INSR 310: TEST 3 || WITH 100% ERRORLESS
SOLUTIONS.
manuscript policy correct answers a policy that allows insurers to alter & change coverages
according to each person

standard policy correct answers a policy that does not change from contract to contract; same
form for every person

dec page correct answers the front page of a policy that specifies the named insured, address,
policy period, location of premises, policy limits, and other key information that varies from
insured to insured

parties; #; dates; exposure; options; premiums correct answers dec page: identifying info
includes:

1. contract _____________
2. policy ___________
3. important ____________
4. type of _____________
5. different ____________
6. ____________ amounts

insuring agreement correct answers summarizes the major promises of the insurer

named peril correct answers form of insuring agreement:

under this, only those perils specifically named in the policy are covered; not named = not
covered

all risk approach correct answers form of insuring agreement:

under this, all losses are covered except those losses specifically excluded; also known as an
open perils policy & a special coverage policy

peril correct answers cause of loss

excluded perils correct answers exclusions:

flood, earthquake, nuclear radiation or radioactive contamination, public taxi, intentional acts

excluded losses correct answers exclusions:

failure to protect property from further damage

, excluded property correct answers exclusions:

certain types of cars, planes, animals, birds, & fish

uninsurable; reasonable; coverage correct answers categories of exclusions:

1. _____________________
2. not _________________ for all EDs to bear
3. __________________ exists elsewhere or may be better served by a separate policy

conditions correct answers provisions in the policy that qualify or place limitations on the
insurer's promise to perform

payment; further loss; notice; proof; dispute; benefits correct answers types of conditions:

1. have to make the ________
2. fraud
3. protect from ____________
4. timely _________ to INSCO
5. timely _________ to INSCO
6. alternative _________ resolution
7. cancellation
8. assignment of ____________

face; repair; replacement; actual cash correct answers recovery feature usually based upon:

1. _______ amount
2. _______ or _______ cost
3. _________________ value

deductibles correct answers to eliminate small claims, reduce premiums, & to reduce moral &
morale hazard

straight/ flat $ correct answers clauses that may reduce recovery:

the ED must pay a certain number of dollars of loss before the INSCO is required to make a
payment

participating correct answers clauses that may reduce recovery:

if the policy pays dividends, it is known as a _____________ policy

disappearing correct answers clauses that may reduce recovery:

as you keep your policy & don't have claims, your deductible decreases with time

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 FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.69. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 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
$11.69
  • (0)
Add to cart
Added