Property and casualty la - Study guides, Class notes & Summaries

New York State Property and Casualty Licensing Exam Latest Version Graded A+ Pro Rata Liability Clause is included in an insurance policy to deal with the problem of 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 If a loss occurs that is covered b...

Pennsylvania Property and Casualty Law Supplement Exam Questions and Answers (Latest Update 2024)

Agents and brokers must notify the Insurance Department of any change in their residence or business address within: correct answers 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. correct answers A What is the maximum term of a temporary license that is issued as a result of a licensee's death...

Agents and brokers must notify the Insurance Department of any change in their residence or business address within: CORRECT ANSWER 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. CORRECT ANSWER A What is the maximum term of a temporary license that is issued as a result of a licensee's death? ...

Property and Casualty- Kentucky Laws and Regulations domestic insurer - correct answer an insurer formed under the laws of Kentucky Foreign Insurer - correct answer an insurer formed under the laws of any state other than Kentucky Alien Insurer - correct answer an insurer formed under the laws of any country other than a state of the United States certificate of athority - correct answer issued by the executive director evidencing the authority of an insurer to transact insurance in Ke...

Mississippi Property and Casualty Law Supplement Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

VIRGINIA PROPERTY AND CASUALTY LICENSING EXAM(ACTUAL EXAM) WITH CORRECT 100+ QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST 2024 ALREADY GRADED A+ / VIRGINIA PROPERTY AND CASUALTY LICENSING EXAM

What is Insurance? - Transfers the risk of loss from individual to insurance co. What is Risk? - Chance of loss occuring What are 3 types of Hazzards? - Physical, Moral, Morale What is a Peril? - Causes of loss insured against What does Indemnify mean? - Right for Reimbursement but only to the extent of the loss. Cannot gain from loss. Define Subrogation - Right to seek damages from 3rd party so that the insured cannot collect 2xs. What is an accident? - Sudden unplanned event resulting i...

VIRGINIA PROPERTY AND CASUALTY LICENSING EXAM(ACTUAL EXAM) WITH CORRECT 100+ QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST 2024 ALREADY GRADED A+ / VIRGINIA PROPERTY AND CASUALTY LICENSING EXAM

Property and Casualty- Kentucky Laws and Regulationsdomestic insurer - correct answer an insurer formed under the laws of Kentucky Foreign Insurer - correct answer an insurer formed under the laws of any state other than Kentucky Alien Insurer - correct answer an insurer formed under the laws of any country other than a state of the United States certificate of athority - correct answer issued by the executive director evidencing the authority of an insurer to transact insurance in Kent...