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NY INSURANCE ADJUSTER EXAM
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NY INSURANCE ADJUSTER EXAM
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NY INSURANCE ADJUSTER EXAMUnder the farm forms, the maximum amount payable for a loss to a satellite dish is: - Answer- The correct answer is: $1,000..
The State Insurance Fund provides workers compensation coverage for which of the following? - Answer- The fund is for both those employers unable to obtain coverage and those purchasing coverage in the competitive market.
Part I of the Workers Compensation Employer Liability Insurance Policy describes - Answer- The insurer's duty to pay promptly, when due, the benefits required of the employer by the workers compensation statute
Vision care insurance policies most often cover: - Answer- The cost of lenses and frames. .
John Smith has just made his last car payment which concludes his contract. The finance company, for reasons not immediately apparent, has the car repossessed. If Mr.
Smith brings a suit, the court will allow Mr. Smith to retake possession of the car pending the court's final ruling as to ownership if Mr. Smith provides the court a: - Answer- Replevin bond..
A replevin bond guarantees that if property is in the possession of party A is determined
to belong to party B and the court orders its return to party B, party A will do so. Party A would first have to obtain an attachment bond, also required by the court, in case the property was wrongfully repossessed.
What is the purpose of the "other insurance clause"? - Answer- To avoid over payment of a claim.
Typically, how are defense costs handled under an aviation policy? - Answer- Handled as a supplementary payment.
Which of the following watercraft losses are excluded under a homeowner policy? I. Theft off the residence premises II. Windstorm damage while the insured's boat is docked at the marina III. Fading of the canvas tarp which covers a boat IV. Earthquake damage - Answer- The correct answer is: I, II, III, and IV.
Replacement cost coverage is best defined as: - Answer- Replacement without deduction for depreciation..
All of the following are excluded from garage policy liability coverage, EXCEPT: - Answer- Injury or damage arising out of a motorboat the named insured keeps stored in the back of his repair garage..
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