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
Texas Statutes and Rules Pertinent to Property and Casualty Insurance QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+ $12.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. TEXAS PROPERTY AND CASUALTY
  4.  
  5. TEXAS PROPERTY AND CASUALTY

Exam (elaborations)

Texas Statutes and Rules Pertinent to Property and Casualty Insurance QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+
 0 purchase
  • Course
  • TEXAS PROPERTY AND CASUALTY
  • Institution
  • TEXAS PROPERTY AND CASUALTY

Texas Statutes and Rules Pertinent to Property and Casualty Insurance QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+

Preview 3 out of 28  pages

Document information

  • November 1, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • texas property and casualty
  • property insurance normally covers what a constr
  • what does the state insurance code define defines
  • 1 to insure house buildings and all different va

Written for

  • TEXAS PROPERTY AND CASUALTY
  • TEXAS PROPERTY AND CASUALTY

Seller

avatar-seller
Ashley96

Reviews received

Content preview

Texas Statutes and Rules Pertinent to
Property and Casualty Insurance


Property Insurance normally covers what

A constructing, the contents of a building or both


Casualty Insurance generally covers what

Compensation or indemnity for damage or wrongdoing to others that the insured is legally
obligated to pay
--Obligation may be imposed with the aid of regulation or assumed by way of contract




Previous
Play
Next
Rewind 10 seconds
Move forward 10 seconds
Unmute
zero:00
/
0:15
Full display
Brainpower
Read More
What does the State Insurance Code define

Defines who or what may be insured under coverage contracts


Under the State Insurance Code, it is prison for an coverage organisation with the proper
Certificate of Authority to do what four actions regarding Property and Casualty coverage

1. To insure house, buildings and all different varieties of belongings in opposition to loss or
damage through fireplace

,2. To take all types of insurance on goods, merchandise or other assets in the direction of
transportation, whether on land or water, or any vessel afloat, anywhere the identical may be
3. To lend money on bottomry or repsondentia
four. To purpose itself to be insured in opposition to any loss or risk it is able to have incurred in
the path of its business


All coverage bureaucracy, endorsements and rates ought to be authorised by using who earlier
than they can be used
The Commissioner


Each filing of charges and forms ought to be accomplished no later than whilst
No later than 60 days before the date of delivery or use

--After the 60-day period, a filed shape or endorsement is permitted except disapproved by way
of the Commissioner




Under the State Insurance Code, no HO or fire coverage may be issued or renewed in TX
unless it carries what number one message in its language?
This policy covers the particular house defined in the coverage for the two spouses regardless
of divorce or change of ownership, unless the 2 spouses adapt the coverage via an
endorsement.


Cancellation of new guidelines can happened inside what time period
Within 60 days of initial effective date via mailing a written be aware giving at the least 10 days
to the powerful cancellation date




Insurer can NOT cancel a HO coverage if has been in effect for 60+ days, besides what 4
reasons
1. Failure to pay the top class when due
2. Increase within the risk this is in the manage of the insured that would produce an increase
inside the top rate fee
3. The insured submits a fraudulent claim
four. The Department determines that the continuation of the coverage could violate or region
the corporation in violation of the Insurance Code or another regulation

, Department of Insurance calls for what for declination, cancellation or nonrenewal given by
means of the insurer to the insured (or applicant), while requested
a written declaration of purpose

--Can be mailed to the insured

Must be acquired at least 10 days earlier than the effective cancellation date




An insurer issuing a widespread fireplace, HO and farm or ranch proprietors insurance
guidelines can upload what at the time a policy is renewed if the insured did what?
Can add a top class surcharge on the time a policy is renewed if the insured has filed 2 or extra
claims inside the 12 months

--Claims can not be for losses due to herbal reasons or claims which can be filed but not paid

The insurer can add an addition premium surcharge on top of the previous one if every other
claim is made during the following yr

--The board will set the quantity of surcharges

--Can NOT exceed 10% of the entire premium

----Includes surcharge paid by using the insured final yr




An insurer can decline to resume a coverage if the insured has finished what
Filed three or greater claims underneath the policy in any three-yr length




In the case of a complete loss of insured property through fire, what policy should be held
--What must this policy be considered to be for complete coverage
A hearth coverage policy ought to be held and taken into consideration to be a liquidated
demand in opposition to the agency for the whole amount of the coverage

--Does no longer observe to non-public property

Insurers are required to include this provision from the Code verbatim in each fireplace
insurance coverage issued on actual property in the nation

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 Ashley96. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69252 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

Recently viewed by you

Exam (elaborations) ·

(0)

Dante 3 Cert Latest Update with Verified Solutions
$12.99
  • (0)
Add to cart
Added