South carolina adjuster Study guides, Class notes & Summaries

Abandonment Condition - CORRECT ANSWER A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - CORRECT ANSWER Type of liability imposed by law on those participating in certain activities that are coered particularly hazardous; person may be held liabile even though they were not negligent. Accident - CORRECT ANSWER A loss that...

Abandonment Condition - ANSWERSA condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - ANSWERSType of liability imposed by law on those participating in certain activities that are coered particularly hazardous; person may be held liabile even though they were not negligent. Accident - ANSWERSA loss that occurs at a specific time and place. ...

Abandonment Condition - correct answer A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - correct answer Type of liability imposed by law on those participating in certain activities that are coered particularly hazardous; person may be held liabile even though they were not negligent. Accident - correct answer A loss that occurs at a spec...

Abandonment Condition - correct answer A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - correct answer Type of liability imposed by law on those participating in certain activities that are coered particularly hazardous; person may be held liabile even though they were not negligent. Accident - correct answer A loss that occurs at a spec...

Insured that faces a liability loss expected? - ANSWER-Provide prompt notification Promptly forward to the insurer any loss notice, demand, summons, or other legal process. Assist the insurer in making a settlement. Attend the trial or other proceedings, if requested. Provide witnesses information Assume no obligation and make no payments directly to claimants Do not admit to the claim Policy Limits - ANSWER-The maximum amount an insured may collect, or for which an insured is protecte...

Abandonment Condition - ANSWER-A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - ANSWER-Type of liability imposed by law on those participating in certain activities that are coered particularly hazardous; person may be held liabile even though they were not negligent. Accident - ANSWER-A loss that occurs at a specific time and place. ...

Abandonment Condition - ANSWER-A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - ANSWER-Type of liability imposed by law on those participating in certain activities that are coered particularly hazardous; person may be held liabile even though they were not negligent. Accident - ANSWER-A loss that occurs at a specific time and place. ...

SC Property, Casualty, Surety and Marine Adjuster 19-11 Licensing Course (2024) Already Passed!!

South Carolina Property, Casualty, Surety, Marine Exam with Questions and Answers-2024 Accumulated Depreciation ANSWER The total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date ANSWER The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) ANSWER A valuation method use...