All Lines Adjuster Exam Questions and Answers | Latest Update
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Course
Adjuster
Institution
Adjuster
The insured has filed a claim under the "Business Income Department Properties - Broad
Form" because the primary buyer of products and services from the business has filed for
bankruptcy under this form the primary buyers business would be known as
A recipient location
recipient location
B...
valuable stock. He submits a claim to his insurance carrier that provides his coverage under
a Business Owners Policy. What coverage is provided by the BOP?
✓ No coverage would apply, there is no coverage for missing property
when there is no physical evidence to show cause of loss
Arbitration (ADR)
✓ Neutral third party hears a dispute and makes a decision both parties
have agreed to follow.
Mediation
✓ A method of settling disputes outside of court by using the services of a
neutral third party, called a mediator. The mediator acts as a
communicating agent between the parties and suggests ways in which the
parties can resolve their dispute. Not binding.
Difference between Arbitration and Meditation?
✓ Mediation is not binding, Arbitration is.
Mediation-Arbitration
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