California Commercial Insurance

Co-insuranceThe policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratioThe formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. Occupational policyWhen a disability income policy provides coverage for injuries which occur on and off the job Most disability income policies are non occupational, meaningThey only cover the insured if they become disabled while away from work....

stare decisisA Latin phrase meaning "let the decision stand." Most cases reaching appellate courts are settled on this principle. Common LawA legal system based on custom and court rulings court of equitya court that administers justice according to the system of equity California courts have been leaders in favoringConsumer rights In California we follow the —- system of civil lawRoman English common law served as a basis for much of ourStatutory law Treaty of Guadalupe Hidalgo (1848...

The term "Time element Coverage" is used when the amount of loss depends on what? The time it takes to repair, rebuild, or restore damaged property.The term time element coverage is used for many indirect losses, such as a business income loss, because the amount of loss might not be directly related to the amount of property damage that occurred, but it is related to the time it takes to repair,, rebuild, or restore the damaged property. Many factors can influence the ultimate loss, incl...

Co-insuranceThe policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratioThe formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. Occupational policyWhen a disability income policy provides coverage for injuries which occur on and off the job Most disability income policies are non occupational, meaningThey only cover the insured if they become disabled while away from work....

What is the required rate discount under a Good Driver Discount policy?20% below the rate the insured would have been otherwise charged for the same coverage All the following are authorized activities for the Limited Automobile Insurance Agent EXCEPT if the agentCharges and collects a brokers fee for service What is the procedure for refusing uninsured motorist coverage in a liability policy?Prior to issuance or renewal, the insured may state in writing that they do not want the coverage ...

Which of the following are common personal uses for life insuranceEstate planning, Cash accumulation, Protection of survivors Which of the following is a characteristic of an interest sensitive whole life policyFlexible premiums, Guaranteed minimum death benefit, Guaranteed minimum rate of return. What type of policy provides coverage for life, but the premiums are not due beyond age 65, has guaranteed premium, accumulates cash value and the coverage will never decreaseA limited pay life p...

A special characteristic of the insurance contract where equal value is not exchanged between parties is known as - Aleatory Life insurance contracts are these agreements - Unilateral What is the proper definition of a take it or leave it contract, written by an insurer: - Adhesion The premium paid by the insured for an insurance policy is: - Consideration The best example of a Peril is: - Cause of loss An admitted insurer is: - Approved to transact An Actuary: - Works with statistics to ...

Which of the following is NOT covered by the Family and Medical Leave Act (FMLA) ?Traveling overseas with a spouse Which of the following acts is NOT a federal offense committed by an insurance agent?Misrepresentation on an insurance application The California Life and Health Insurance GuaranteeAssociation covers all of these types of policies except?Self-Funded Plans What effect did the Pregnancy Discrimination Act have on the health industry?Pregnancy must be treated as any other medica...