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New York State Property and Casualty Licensing Exam Study Guide Solutions
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New York State Property and Casualty Licensing Exam Study Guide Solutions Pro Rata Liability Clause is included in an insurance policy to deal with the problem of - ANSWER- Duplicate insurance policies The purpose of this clause is to illustrate the method to determine each insurer's liability ...

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  • November 11, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • new york state property and casualty licensing exa

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED




New York State Property and Casualty

Licensing Exam Study Guide Solutions


Pro Rata Liability Clause is included in an insurance policy to deal with the problem of - ANSWER✔✔-

Duplicate insurance policies


The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a

loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the

total coverage carried.


pro rata liability - ANSWER✔✔-If a loss occurs that is covered by more than 1 insurance policy that was

purchased by the insured, then each policy pays a portion of the loss that is proportional to the amount

of that policy over the total amount of all policies for the loss—each policy pays its pro rata share.


What is meant by Res Ipsa Loquitur? - ANSWER✔✔-Res ipsa loquitur means, roughly, "the thing speaks

for itself." Courts developed the concept of Res Ipsa Loquitur to deal with cases in which the actual

negligent act cannot be proved, but it is clear that the injury was caused by negligence.


What territories are covered by commercial auto insurance? - ANSWER✔✔-The coverage territory

granted in commercial auto insurance is the United States, its territories and possessions, Puerto Rico

and Canada.


What does automobile insurance Supplementary Payments refer to? - ANSWER✔✔-Payment of defense

and other expenses by the insurance company beyond the limits of liability..




Copyright ©Stuvia International BV 2010-2024 Page 1/9

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED


Any expense the insurance company wishes to incur in the processing of a claim is outside the limits of

coverage. The insured is not penalized.


Medical Payments coverage under a Homeowner policy are available for expenses resulting from an

injury to: - ANSWER✔✔-A residence employee..


This could be someone who mows the lawn. However, if a residence employee is covered under Workers

Compensation Coverage then the Medical Payments Coverage would not apply. Coverage does not apply

to the insured or member of the household. Roomers, boarders and tenants are not covered as well


what does Homeowners - Coverage C exclude? - ANSWER✔✔-The Homeowners forms exclude certain

types of property. Pets are not covered for loss by an insured peril. The policy also excludes coverage for

property that is more specifically insured. Property of tenants is also excluded.


George Wilson has a personal auto policy. What coverage that would apply when a deer leaps onto Mr.

Wilson's car and causes extensive damage? - ANSWER✔✔-Comprehensive (other than collision).


Contact with a bird or animal is considered to be an "other than collision" loss.


insurance producer - ANSWER✔✔-an insurance agent, insurance broker, reinsurance intermediary,

excess lines broker, or any other person required to be licensed under the laws of this state to sell, solicit,

or negotiate insurance


home state - ANSWER✔✔-the District of Columbia or any state or territory of the United States in which

an insurance producer maintains his, her or its principal place of residence or principal place of business

and its licensed to act as an insurance producer


who represents the insurer in an insurance transaction? - ANSWER✔✔-agent


who do independent adjusters work on behalf of? - ANSWER✔✔-insureds

Copyright ©Stuvia International BV 2010-2024 Page 2/9

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